Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 11,487 Shares

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 11,487 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $78.36, for a total transaction of $900,121.32. Following the sale, the insider directly owned 1,821,510 shares of the company’s stock, valued at approximately $142,733,523.60. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 Trading Down 0.2%

Shares of NASDAQ:SAFT opened at $77.63 on Friday. The business’s 50-day moving average is $77.72 and its 200 day moving average is $74.80. 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, Inc. has a 1 year low of $67.04 and a 1 year high of $84.20. The firm has a market capitalization of $1.16 billion, a P/E ratio of 11.59 and a beta of 0.22.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.23. Safety Insurance Group had a return on equity of 9.69% and a net margin of 7.85%.The business had revenue of $319.34 million for the quarter.

Safety Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, March 2nd. Safety Insurance Group’s payout ratio is currently 54.93%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a report on Thursday, January 22nd. Wall Street Zen raised Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Institutional Trading of Safety Insurance Group

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of Safety Insurance Group by 74.8% in the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 166 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Safety Insurance Group by 62.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 160 shares in the last quarter. Blue Trust Inc. acquired a new position in Safety Insurance Group in the 3rd quarter worth about $35,000. Capital Advisors Ltd. LLC grew its holdings in Safety Insurance Group by 419.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 394 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Safety Insurance Group by 653.0% in the fourth quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $39,000 after buying an additional 431 shares in the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.

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.