Insider Selling: Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells $316,815.72 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 4,089 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $77.48, for a total transaction of $316,815.72. Following the transaction, the insider directly owned 1,838,195 shares in the company, valued at approximately $142,423,348.60. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock 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 shares were sold at an average price of $78.29, for a total transaction of $168,088.63.
• On Tuesday, February 24th, Corp Srb sold 3,231 shares of Safety Insurance Group stock. The stock was sold at an average price of $77.14, for a total transaction of $249,239.34.

Safety Insurance Group Stock Performance

Shares of SAFT opened at $77.63 on Friday. The company has a 50-day simple moving average of $77.72 and a two-hundred day simple moving average of $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. The firm has a market capitalization of $1.16 billion, a PE ratio of 11.59 and a beta of 0.22. Safety Insurance Group, Inc. has a one year low of $67.04 and a one year high of $84.20.

Safety Insurance Group (NASDAQ:SAFT) last posted its 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. The firm had revenue of $319.34 million for the quarter. Safety Insurance Group had a return on equity of 9.69% and a net margin of 7.85%.

Safety Insurance Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.68 annualized dividend and a yield of 4.7%. Safety Insurance Group’s dividend payout ratio (DPR) is currently 54.93%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of Safety Insurance Group by 74.8% during the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock valued at $30,000 after buying an additional 166 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in 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 acquiring an additional 160 shares in the last quarter. Blue Trust Inc. purchased a new stake in Safety Insurance Group during the 3rd quarter valued at $35,000. Capital Advisors Ltd. LLC increased its holdings in shares of Safety Insurance Group by 419.1% in the 4th 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 increased its holdings in shares of Safety Insurance Group by 653.0% in the 4th quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 431 shares in the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SAFT shares. Wall Street Zen upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.