Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 4,089 Shares

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 4,089 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $77.48, for a total transaction of $316,815.72. Following the completion of the sale, the insider owned 1,838,195 shares in the company, valued at $142,423,348.60. This represents a 0.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, February 24th, Corp Srb sold 3,231 shares of Safety Insurance Group stock. The shares were sold at an average price of $77.14, for a total value of $249,239.34.

Safety Insurance Group Trading Up 1.3%

Shares of SAFT stock traded up $1.00 during mid-day trading on Thursday, reaching $79.46. 9,646 shares of the stock traded hands, compared to its average volume of 72,722. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 13.49 and a beta of 0.22. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $77.78 and its two-hundred day simple moving average is $74.74. Safety Insurance Group, Inc. has a 1-year low of $67.04 and a 1-year high of $84.20.

Safety Insurance Group (NASDAQ:SAFT) last announced its earnings results on Wednesday, February 25th. The insurance provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.28 by $0.23. The business had revenue of $319.34 million for the quarter. Safety Insurance Group had a return on equity of 8.85% and a net margin of 7.09%.

Safety Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.92 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.68 annualized dividend and a yield of 4.6%. Safety Insurance Group’s dividend payout ratio is presently 62.48%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Safety Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd grew its stake in Safety Insurance Group by 2.8% in the fourth quarter. XTX Topco Ltd now owns 4,745 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 127 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Safety Insurance Group by 3.5% in the 3rd quarter. Amalgamated Bank now owns 4,377 shares of the insurance provider’s stock worth $309,000 after purchasing an additional 150 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Safety Insurance Group by 0.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,753 shares of the insurance provider’s stock worth $1,851,000 after buying an additional 152 shares in the last quarter. PNC Financial Services Group Inc. grew 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 worth $32,000 after buying an additional 160 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of 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 buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.

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.