Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells 1,240,352 Shares

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 1,240,352 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $103.07, for a total value of $127,843,080.64. Following the transaction, the insider directly owned 473,387 shares in the company, valued at $48,791,998.09. The trade was a 72.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Corp Srb also recently made the following trade(s):

• On Friday, July 24th, Corp Srb sold 38,835 shares of Safety Insurance Group stock. The shares were sold at an average price of $103.08, for a total value of $4,003,111.80.
• On Monday, July 13th, Corp Srb sold 34,272 shares of Safety Insurance Group stock. The stock was sold at an average price of $76.04, for a total transaction of $2,606,042.88.
• On Thursday, July 9th, Corp Srb sold 2,650 shares of Safety Insurance Group stock. The stock was sold at an average price of $76.51, for a total transaction of $202,751.50.

Safety Insurance Group Stock Up 0.0%

NASDAQ SAFT traded up $0.03 during trading on Tuesday, reaching $103.03. 583,999 shares of the company’s stock traded hands, compared to its average volume of 270,434. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 24.36 and a beta of 0.21. The company’s 50 day simple moving average is $74.71 and its two-hundred day simple moving average is $75.13. Safety Insurance Group, Inc. has a 12-month low of $67.04 and a 12-month high of $103.50.

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

Safety Insurance Group Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.6%. Safety Insurance Group’s payout ratio is 87.00%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings raised Safety Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Wall Street Zen upgraded Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Zacks Research raised Safety Insurance Group to a “hold” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Safety Insurance Group presently has a consensus rating of “Hold”.

Institutional Trading of Safety Insurance Group

Several large investors have recently bought and sold shares of SAFT. Goldman Sachs Group Inc. raised its holdings in shares of Safety Insurance Group by 353.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 306,554 shares of the insurance provider’s stock worth $23,884,000 after buying an additional 238,946 shares during the last quarter. AQR Capital Management LLC raised its stake in Safety Insurance Group by 62.6% in the 4th quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider’s stock worth $23,741,000 after acquiring an additional 117,261 shares during the last quarter. Millennium Management LLC raised its stake in Safety Insurance Group by 224.8% in the 3rd quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider’s stock worth $9,879,000 after acquiring an additional 96,728 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in Safety Insurance Group by 175.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 116,269 shares of the insurance provider’s stock worth $8,219,000 after acquiring an additional 74,059 shares during the period. Finally, Two Sigma Investments LP lifted its position in Safety Insurance Group by 388.0% during the 3rd quarter. Two Sigma Investments LP now owns 86,026 shares of the insurance provider’s stock worth $6,081,000 after acquiring an additional 68,399 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Company Profile

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.