Vanguard Group Inc. Sells 11,067 Shares of Safety Insurance Group, Inc. $SAFT

Vanguard Group Inc. reduced its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,631,832 shares of the insurance provider’s stock after selling 11,067 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Safety Insurance Group worth $115,354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Safety Insurance Group by 1,317.1% during the second quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 461 shares during the last quarter. Blue Trust Inc. bought a new position in Safety Insurance Group during the 3rd quarter valued at about $35,000. Tower Research Capital LLC TRC raised its position in Safety Insurance Group by 357.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,322 shares of the insurance provider’s stock worth $184,000 after purchasing an additional 1,814 shares during the period. Inceptionr LLC bought a new stake in Safety Insurance Group in the second quarter worth about $205,000. Finally, Cerity Partners LLC purchased a new position in shares of Safety Insurance Group during the second quarter valued at approximately $225,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Trading Up 0.8%

NASDAQ:SAFT opened at $76.32 on Thursday. The firm has a 50-day simple moving average of $77.55 and a 200-day simple moving average of $74.86. Safety Insurance Group, Inc. has a one year low of $67.04 and a one year high of $84.20. The firm has a market cap of $1.12 billion, a P/E ratio of 11.39 and a beta of 0.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.41 and a current ratio of 0.40.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Wednesday, February 25th. The insurance provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.23. The company had revenue of $319.34 million during the quarter. Safety Insurance Group had a net margin of 7.85% and a return on equity of 9.64%.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be issued a $0.92 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.68 dividend on an annualized basis and a yield of 4.8%. Safety Insurance Group’s payout ratio is currently 54.93%.

Insider Activity

In related news, major shareholder Corp Srb sold 11,487 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $78.36, for a total transaction of $900,121.32. Following the completion of the transaction, the insider owned 1,821,510 shares in the company, valued at $142,733,523.60. The trade was a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 20,954 shares of company stock valued at $1,634,265. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SAFT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

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.