Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells $87,598.94 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 1,199 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $73.06, for a total transaction of $87,598.94. Following the completion of the sale, the insider owned 1,808,806 shares of the company’s stock, valued at approximately $132,151,366.36. This trade represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Corp Srb also recently made the following trade(s):

• On Thursday, February 26th, Corp Srb sold 11,487 shares of Safety Insurance Group stock. The stock was sold at an average price of $78.36, for a total transaction of $900,121.32.
• On Wednesday, February 25th, Corp Srb sold 2,147 shares of Safety Insurance Group stock. The stock was sold at an average price of $78.29, for a total value of $168,088.63.
• On Tuesday, February 24th, Corp Srb sold 3,231 shares of Safety Insurance Group stock. The shares were sold at an average price of $77.14, for a total value of $249,239.34.
• On Monday, February 23rd, Corp Srb sold 4,089 shares of Safety Insurance Group stock. The stock was sold at an average price of $77.48, for a total value of $316,815.72.

Safety Insurance Group Stock Up 0.5%

SAFT stock traded up $0.33 on Thursday, hitting $72.40. 83,237 shares of the company’s stock were exchanged, compared to its average volume of 74,820. The firm has a 50 day moving average price of $76.69 and a two-hundred day moving average price of $74.81. Safety Insurance Group, Inc. has a 12-month low of $67.04 and a 12-month high of $84.20. The stock has a market cap of $1.06 billion, a P/E ratio of 10.81 and a beta of 0.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40.

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

Safety Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were paid a $0.92 dividend. The ex-dividend date was Monday, March 2nd. This represents a $3.68 dividend on an annualized basis and a yield of 5.1%. Safety Insurance Group’s dividend payout ratio (DPR) is 54.93%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Safety Insurance Group

Large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Safety Insurance Group by 9.9% during the 1st quarter. Royal Bank of Canada now owns 10,148 shares of the insurance provider’s stock worth $801,000 after buying an additional 914 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Safety Insurance Group by 19.7% in the 1st quarter. AQR Capital Management LLC now owns 34,093 shares of the insurance provider’s stock valued at $2,689,000 after acquiring an additional 5,619 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Safety Insurance Group by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock worth $689,000 after acquiring an additional 389 shares during the period. Millennium Management LLC increased its stake in shares of Safety Insurance Group by 284.9% in the first quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock worth $6,765,000 after acquiring an additional 63,480 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Safety Insurance Group by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,747 shares of the insurance provider’s stock worth $2,662,000 after purchasing an additional 3,011 shares during the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.

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.