Safety Insurance Group Inc. (SAFT) Hits New 52-Week High at $63.55
Safety Insurance Group Inc. (NASDAQ:SAFT) reached a new 52-week high during trading on Monday . The stock traded as high as $63.55 and last traded at $63.51, with a volume of 46,897 shares trading hands. The stock had previously closed at $61.90.
Separately, Compass Point lifted their target price on Safety Insurance Group from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, May 4th.
The company’s 50 day moving average is $60.82 and its 200-day moving average is $57.44. The stock has a market capitalization of $971.63 million and a P/E ratio of 28.29.
Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. During the same period in the prior year, the firm earned ($2.37) earnings per share. Equities analysts predict that Safety Insurance Group Inc. will post $3.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Friday, May 27th.
In related news, CFO William J. Begley, Jr. sold 5,132 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The stock was 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 SEC, which is available at this link.
A number of large investors have added to or reduced their stakes in SAFT. Victory Capital Management Inc. acquired a new stake in Safety Insurance Group during the fourth quarter valued at $11,778,000. Matarin Capital Management LLC acquired a new stake in Safety Insurance Group during the fourth quarter valued at $1,222,000. Boston Partners boosted its stake in 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 last quarter. Rhumbline Advisers boosted its stake in 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 last quarter. Finally, California State Teachers Retirement System boosted its stake in 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 last quarter.
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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