Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells $4,003,111.80 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 38,835 shares of Safety Insurance Group stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $103.08, for a total value of $4,003,111.80. Following the completion of the sale, the insider directly owned 1,713,739 shares in the company, valued at $176,652,216.12. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major 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 Monday, July 27th, Corp Srb sold 1,240,352 shares of Safety Insurance Group stock. The shares were sold at an average price of $103.07, for a total value of $127,843,080.64.
• On Monday, July 13th, Corp Srb sold 34,272 shares of Safety Insurance Group stock. The shares were sold at an average price of $76.04, for a total value 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 Price Performance

Safety Insurance Group stock opened at $103.19 on Friday. The company has a fifty day simple moving average of $75.91 and a 200-day simple moving average of $75.51. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 24.39 and a beta of 0.21. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. Safety Insurance Group, Inc. has a 52-week low of $67.04 and a 52-week 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) earnings per share for the quarter, missing the consensus estimate of $1.45 by ($2.17). The business had revenue of $314.67 million during the quarter, compared to analysts’ expectations of $315.01 million. Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%. On average, equities analysts anticipate that Safety Insurance Group, Inc. will post 4.75 EPS for the current fiscal year.

Safety Insurance Group Announces Dividend

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

Wall Street Analysts Forecast Growth

SAFT has been the subject of several recent research reports. Zacks Research raised Safety Insurance Group to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings raised Safety Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded Safety Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Institutional Trading of Safety Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in Safety Insurance Group by 74.8% in the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Bayban purchased a new stake in Safety Insurance Group in the fourth quarter valued at $31,000. PNC Financial Services Group Inc. raised its position in Safety Insurance Group by 62.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 160 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Safety Insurance Group by 419.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 394 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Safety Insurance Group by 1,317.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 461 shares during the period. Institutional investors and hedge funds 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.