Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells $1,006,419.12 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 14,151 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $71.12, for a total transaction of $1,006,419.12. Following the completion of the sale, the insider owned 1,794,655 shares of the company’s stock, valued at $127,635,863.60. The trade was a 0.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 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 Tuesday, March 17th, Corp Srb sold 1,199 shares of Safety Insurance Group stock. The stock was sold at an average price of $73.06, for a total transaction of $87,598.94.
• 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 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.
• 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 Stock Down 0.8%

Shares of SAFT opened at $72.82 on Thursday. The business’s fifty day moving average price is $76.35 and its two-hundred day moving average price is $74.80. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.87 and a beta of 0.21. Safety Insurance Group, Inc. has a 52 week low of $67.04 and a 52 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.

Safety Insurance Group (NASDAQ:SAFT) last released 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 company had revenue of $319.34 million during the quarter. Safety Insurance Group had a return on equity of 9.64% and a net margin of 7.85%.

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were given a dividend of $0.92 per share. 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 currently 54.93%.

Hedge Funds Weigh In On Safety Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAFT. Allworth Financial LP grew its position in shares of Safety Insurance Group by 74.8% during the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after buying an additional 166 shares during the period. Bayban bought a new position in Safety Insurance Group during the 4th quarter worth approximately $31,000. PNC Financial Services Group Inc. boosted its stake in Safety Insurance Group by 62.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 160 shares during the last quarter. Blue Trust Inc. acquired a new position in Safety Insurance Group during the third quarter valued at approximately $35,000. Finally, Capital Advisors Ltd. LLC grew its holdings in Safety Insurance Group by 419.1% during 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. Institutional investors own 81.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SAFT. Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Safety Insurance Group 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.