Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 1,199 Shares

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 1,199 shares of Safety Insurance Group stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $73.06, for a total transaction of $87,598.94. Following the completion of the sale, the insider owned 1,808,806 shares of the company’s stock, valued at approximately $132,151,366.36. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares 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 shares were sold at an average price of $78.36, for a total value of $900,121.32.
• 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 stock was 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 shares were sold at an average price of $77.48, for a total value of $316,815.72.

Safety Insurance Group Stock Performance

NASDAQ:SAFT opened at $71.92 on Friday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 10.73 and a beta of 0.21. Safety Insurance Group, Inc. has a fifty-two week low of $67.04 and a fifty-two week high of $84.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average price of $76.59 and a 200-day moving average price of $74.79.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.23. The company had revenue of $319.34 million for the quarter. Safety Insurance Group had a return on equity of 9.64% and a net margin of 7.85%.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were given a $0.92 dividend. The ex-dividend date was Monday, March 2nd. This represents a $3.68 annualized dividend and a dividend yield of 5.1%. Safety Insurance Group’s payout ratio is presently 54.93%.

Analysts Set New Price Targets

Several 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 report on Saturday, February 28th. Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Safety Insurance Group has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its stake in shares of Safety Insurance Group by 74.8% in the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Bayban acquired a new position in Safety Insurance Group during the 4th quarter worth approximately $31,000. PNC Financial Services Group Inc. lifted its stake 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 purchasing an additional 160 shares during the last quarter. Blue Trust Inc. bought a new position in Safety Insurance Group in the 3rd quarter valued at approximately $35,000. Finally, Capital Advisors Ltd. LLC boosted its position 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 buying an additional 394 shares in the last quarter. Institutional investors and hedge funds 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.