Safety Insurance Group Inc. (SAFT) Sees Large Volume Increase
Shares of Safety Insurance Group Inc. (NASDAQ:SAFT) saw unusually-high trading volume on Friday . Approximately 112,181 shares traded hands during mid-day 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 raised their price target on shares of Safety Insurance Group from $57.00 to $58.00 and gave the stock a “neutral” rating in a research 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 stock has a market cap of $938.28 million and a PE ratio of 27.32.
Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.12. During the same quarter last year, the firm earned ($2.37) earnings per share. Analysts predict that Safety Insurance Group Inc. will post $3.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Friday, May 27th.
In other news, CFO William J. Begley, Jr. sold 5,132 shares of the business’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $59.47, for a total value of $305,200.04. Following the completion of the sale, the chief financial officer now directly owns 20,474 shares in the company, valued at $1,217,588.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
A number of institutional investors recently made changes to their positions in the company. Boston Partners raised its position 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 worth $6,757,000 after buying an additional 7,325 shares during the period. Rhumbline Advisers raised its position 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 worth $1,473,000 after buying an additional 635 shares during the period. Victory Capital Management Inc. bought a new position in shares of Safety Insurance Group during the fourth quarter worth about $11,778,000. Matarin Capital Management LLC bought a new position in shares of Safety Insurance Group during the fourth quarter worth about $1,222,000. Finally, California State Teachers Retirement System raised its position 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 worth $1,577,000 after buying an additional 400 shares during the period.
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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