Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 3,231 Shares

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 3,231 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $77.14, for a total transaction of $249,239.34. Following the completion of the transaction, the insider directly owned 1,834,964 shares in the company, valued at approximately $141,549,122.96. The trade was a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, February 23rd, Corp Srb sold 4,089 shares of Safety Insurance Group stock. The shares were sold at an average price of $77.48, for a total value of $316,815.72.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT traded up $1.02 during mid-day trading on Wednesday, reaching $78.46. 61,248 shares of the company traded hands, compared to its average volume of 74,555. Safety Insurance Group, Inc. has a 52 week low of $67.04 and a 52 week high of $84.20. The firm has a market cap of $1.17 billion, a PE ratio of 13.32 and a beta of 0.22. The company’s 50 day moving average price is $77.80 and its 200-day moving average price is $74.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.41 and a quick ratio of 0.41.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.23. Safety Insurance Group had a return on equity of 8.85% and a net margin of 7.09%.

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, March 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is 62.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SAFT. Royal Bank of Canada grew its position in Safety Insurance Group by 9.9% in the first quarter. Royal Bank of Canada now owns 10,148 shares of the insurance provider’s stock worth $801,000 after acquiring an additional 914 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Safety Insurance Group by 19.7% during the 1st quarter. AQR Capital Management LLC now owns 34,093 shares of the insurance provider’s stock valued at $2,689,000 after purchasing an additional 5,619 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Safety Insurance Group by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock valued at $689,000 after buying an additional 389 shares during the period. Millennium Management LLC lifted its position in 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 buying an additional 63,480 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 buying an additional 3,011 shares during the period. Institutional investors own 81.04% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Safety Insurance Group Company Profile

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.