Safety Insurance Group (NASDAQ:SAFT) Sees Strong Trading Volume – What’s Next?

Safety Insurance Group, Inc. (NASDAQ:SAFT) shares saw strong trading volume on Monday . 63,355 shares traded hands during mid-day trading, a decline of 41% from the previous session’s volume of 106,617 shares.The stock last traded at $103.33 and had previously closed at $103.20.

Safety Insurance Group News Roundup

Here are the key news stories impacting Safety Insurance Group this week:

• Positive Sentiment: The Mapfre buyout provides a substantial premium to Safety Insurance shareholders and is the primary catalyst behind the stock’s recent advance. Safety Insurance stock jumps 41% on Mapfre buyout deal
• Positive Sentiment: The proposed all-cash transaction offers shareholders a defined exit value, reducing exposure to Safety Insurance’s standalone operating results, including its most recent quarterly EPS shortfall.

Wall Street Analyst Weigh In

SAFT has been the topic of a number of research analyst reports. Zacks Research raised Safety Insurance Group to a “hold” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded Safety Insurance Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings raised Safety Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Safety Insurance Group Stock Up 0.0%

The firm has a market capitalization of $1.51 billion, a P/E ratio of 24.36 and a beta of 0.21. The firm’s 50-day moving average is $74.71 and its 200 day moving average is $75.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39.

Safety Insurance Group (NASDAQ:SAFT) last announced its earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). The company had revenue of $314.67 million during the quarter, compared to analyst estimates of $315.01 million. Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%. As a group, equities research analysts predict that Safety Insurance Group, Inc. will post 4.75 EPS for the current fiscal year.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, June 1st. Safety Insurance Group’s dividend payout ratio is currently 87.00%.

Insider Buying and Selling at Safety Insurance Group

In related news, major shareholder Corp Srb sold 1,240,352 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $103.07, for a total transaction of $127,843,080.64. Following the completion of the transaction, the insider directly owned 473,387 shares in the company, valued at approximately $48,791,998.09. This trade represents a 72.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,316,109 shares of company stock worth $134,654,987 over the last ninety days. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Safety Insurance Group

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Safety Insurance Group by 74.8% during the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Bayban acquired a new stake in shares of Safety Insurance Group in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. lifted its position in shares of Safety Insurance Group by 62.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Safety Insurance Group by 419.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 394 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Safety Insurance Group by 653.0% during the fourth quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 431 shares during the last quarter. 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.