Safety Insurance Group (NASDAQ:SAFT) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $73.80 and traded as high as $79.74. Safety Insurance Group shares last traded at $79.29, with a volume of 51,571 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Safety Insurance Group Trading Down 0.1%

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.41 and a quick ratio of 0.41. The business’s 50-day simple moving average is $74.56 and its two-hundred day simple moving average is $73.84. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 13.44 and a beta of 0.25.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Monday, November 3rd. The insurance provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.32). Safety Insurance Group had a net margin of 7.09% and a return on equity of 8.85%. The business had revenue of $323.21 million during the quarter.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, December 1st. Safety Insurance Group’s payout ratio is currently 62.48%.

Institutional Investors Weigh In On Safety Insurance Group

Hedge funds have recently modified their holdings of the stock. Triumph Capital Management purchased a new position in Safety Insurance Group in the 3rd quarter worth approximately $95,000. Tudor Investment Corp ET AL lifted its position in shares of Safety Insurance Group by 285.7% during the third quarter. Tudor Investment Corp ET AL now owns 28,204 shares of the insurance provider’s stock worth $1,994,000 after purchasing an additional 20,892 shares in the last quarter. Dark Forest Capital Management LP lifted its position in shares of Safety Insurance Group by 34.4% during the third quarter. Dark Forest Capital Management LP now owns 25,098 shares of the insurance provider’s stock worth $1,774,000 after purchasing an additional 6,419 shares in the last quarter. Virtus Advisers LLC purchased a new position in shares of Safety Insurance Group in the third quarter valued at $196,000. Finally, Verition Fund Management LLC acquired a new stake in Safety Insurance Group during the 3rd quarter valued at $800,000. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

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.