Safety Insurance Group (NASDAQ:SAFT) Reaches New 12-Month High – Here’s What Happened

Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) hit a new 52-week high during trading on Monday. The company traded as high as $104.17 and last traded at $104.16, with a volume of 78,043 shares trading hands. The stock had previously closed at $104.16.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Safety Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Safety Insurance Group presently has an average rating of “Moderate Buy”.

Safety Insurance Group Price Performance

The business’s fifty day moving average price is $103.67 and its 200-day moving average price is $84.25.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.03. The firm had revenue of $325.68 million during the quarter, compared to the consensus estimate of $325.68 million. As a group, research analysts predict that Safety Insurance Group, Inc. will post 4.15 EPS for the current year.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $3.68 annualized dividend and a yield of 3.5%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SAFT. BlackRock Inc. bought a new position in shares of Safety Insurance Group in the second quarter worth $171,385,000. Dimensional Fund Advisors LP boosted its stake in Safety Insurance Group by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 711,806 shares of the insurance provider’s stock valued at $51,708,000 after buying an additional 3,319 shares during the period. Bank of New York Mellon Corp purchased a new position in Safety Insurance Group during the second quarter worth about $10,513,000. Renaissance Technologies LLC grew its position in Safety Insurance Group by 0.3% during the first quarter. Renaissance Technologies LLC now owns 140,400 shares of the insurance provider’s stock worth $10,199,000 after buying an additional 400 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Safety Insurance Group by 2.0% during the first quarter. Principal Financial Group Inc. now owns 72,384 shares of the insurance provider’s stock worth $5,258,000 after buying an additional 1,406 shares in the last quarter. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is an insurance holding company that provides property and casualty insurance products primarily through its subsidiary, Safety Insurance Company. The company focuses on personal and commercial insurance coverage for individuals, families, and businesses.

Its product offerings include private passenger automobile insurance, homeowners insurance, dwelling fire coverage, business owners policies, commercial automobile insurance, and related property and liability products.