Safety Insurance Group Inc. (SAFT) Sees Unusually-High Trading Volume
Safety Insurance Group Inc. (NASDAQ:SAFT) shares saw strong trading volume on Friday . 112,181 shares changed hands during trading, an increase of 84% from the previous session’s volume of 60,964 shares.The stock last traded at $61.90 and had previously closed at $61.46.
Separately, Compass Point lifted their target price on Safety Insurance Group from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, May 4th.
The firm’s 50-day moving average is $60.54 and its 200 day moving average is $57.30. The company has a market capitalization of $938.28 million and a P/E ratio of 27.32.
Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.12. During the same period in the previous year, the company posted ($2.37) EPS. On average, equities analysts predict that Safety Insurance Group Inc. will post $3.94 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were issued a dividend of $0.70 per share. The ex-dividend date was Friday, May 27th. This represents a $2.80 annualized dividend and a yield of 4.52%.
In other Safety Insurance Group news, CFO William J. Begley, Jr. sold 5,132 shares of the company’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $59.47, for a total transaction of $305,200.04. Following the sale, the chief financial officer now owns 20,474 shares in the company, valued at approximately $1,217,588.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Other large investors recently modified their holdings of the company. Matarin Capital Management LLC bought a new stake in shares of Safety Insurance Group during the fourth quarter valued at $1,222,000. Rhumbline Advisers increased its stake in shares of Safety Insurance Group by 2.5% in the fourth quarter. Rhumbline Advisers now owns 26,135 shares of the company’s stock valued at $1,473,000 after buying an additional 635 shares during the period. California State Teachers Retirement System increased its stake in shares of Safety Insurance Group by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 27,964 shares of the company’s stock valued at $1,577,000 after buying an additional 400 shares during the period. Boston Partners increased its stake in shares of Safety Insurance Group by 6.5% in the fourth quarter. Boston Partners now owns 119,845 shares of the company’s stock valued at $6,757,000 after buying an additional 7,325 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in shares of Safety Insurance Group during the fourth quarter valued at $11,778,000.
Safety Insurance Group, Inc is a provider of personal lines property and casualty insurance focuses primarily on the Massachusetts market. The Company provides private passenger automobile insurance. In addition to private passenger automobile insurance, it offers a portfolio of property and casualty insurance products, including commercial automobile, homeowners, dwelling fire, umbrella and business owner policies.
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