Safety Insurance Group, Inc. $SAFT Shares Sold by SRB Corp

SRB Corp decreased its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,794,655 shares of the insurance provider’s stock after selling 47,629 shares during the quarter. Safety Insurance Group accounts for approximately 8.0% of SRB Corp’s investment portfolio, making the stock its 2nd largest position. SRB Corp owned 0.12% of Safety Insurance Group worth $130,364,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SAFT. Allworth Financial LP raised its position in shares of Safety Insurance Group by 74.8% in the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. Bayban acquired a new stake in shares of Safety Insurance Group during the 4th quarter worth approximately $31,000. PNC Financial Services Group Inc. boosted its position in shares of Safety Insurance Group by 62.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Safety Insurance Group by 419.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 394 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Safety Insurance Group by 653.0% in the fourth quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 431 shares during the last quarter. 81.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Safety Insurance Group news, major shareholder Corp Srb sold 34,272 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $76.04, for a total value of $2,606,042.88. Following the sale, the insider owned 1,757,733 shares in the company, valued at $133,658,017.32. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research upgraded shares of Safety Insurance Group to a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a report on Friday, May 29th. Finally, Wall Street Zen upgraded Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Safety Insurance Group Stock Up 41.5%

Shares of NASDAQ SAFT opened at $103.20 on Friday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 24.40 and a beta of 0.21. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. Safety Insurance Group, Inc. has a 12 month low of $67.04 and a 12 month high of $103.42. The stock has a 50-day moving average price of $73.49 and a two-hundred day moving average price of $74.75.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). The company had revenue of $314.67 million during the quarter, compared to analyst estimates of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. As a group, analysts forecast that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current fiscal year.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.68 annualized dividend and a yield of 3.6%. Safety Insurance Group’s dividend payout ratio is presently 87.00%.

Key Headlines Impacting Safety Insurance Group

Here are the key news stories impacting Safety Insurance Group this week:

• Positive Sentiment: Safety Insurance Group agreed to be acquired by Mapfre for $105 per share in cash, creating a strong premium and immediate takeover value for shareholders. Safety Insurance Group, Inc. Enters Into Merger Agreement With Mapfre for $1.54 Billion
• Positive Sentiment: The deal price has effectively become a valuation floor for SAFT, which typically pulls a stock up close to the acquisition value while the market waits for closing. Mapfre to Acquire Safety Insurance Group in Cash Deal
• Neutral Sentiment: Several shareholder law firms have announced investigations into whether the $105 cash price is fair, which could add legal noise but does not change the announced deal terms for now. Shareholder Alert: Ademi LLP investigates whether Safety Insurance Group, Inc. is obtaining a Fair Price for Public Shareholders
• Neutral Sentiment: Recent short-interest and insider-trading data do not appear to be driving the move; the stock reaction is primarily tied to the buyout announcement. Safety Insurance Group Jumps on $105-Per-Share Cash Buyout Deal

About Safety Insurance Group

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.