Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 2,650 Shares of Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 2,650 shares of Safety Insurance Group stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $76.51, for a total transaction of $202,751.50. Following the completion of the sale, the insider directly owned 1,792,005 shares of the company’s stock, valued at approximately $137,106,302.55. The trade was a 0.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Safety Insurance Group Stock Down 0.5%

NASDAQ:SAFT traded down $0.38 during trading hours on Friday, reaching $75.55. The company’s stock had a trading volume of 60,598 shares, compared to its average volume of 95,457. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 17.86 and a beta of 0.21. Safety Insurance Group, Inc. has a one year low of $67.04 and a one year high of $81.49. The business’s 50-day moving average is $72.55 and its 200-day moving average is $74.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of $1.45 by ($2.17). Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. The company had revenue of $314.67 million for the quarter, compared to the consensus estimate of $315.01 million. Equities research analysts predict that Safety Insurance Group, Inc. will post 4.75 EPS for the current year.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, June 1st. Safety Insurance Group’s dividend payout ratio is currently 87.00%.

Analyst Upgrades and Downgrades

SAFT has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a research report on Friday, May 29th. Finally, Zacks Research upgraded shares of Safety Insurance Group to a “hold” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Hedge Funds Weigh In On Safety Insurance Group

Several large investors have recently added to or reduced their stakes in SAFT. Vanguard Group Inc. lifted its position in shares of Safety Insurance Group by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,661,343 shares of the insurance provider’s stock worth $129,435,000 after acquiring an additional 29,511 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Safety Insurance Group by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 711,806 shares of the insurance provider’s stock valued at $51,708,000 after purchasing an additional 3,319 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Safety Insurance Group by 353.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 306,554 shares of the insurance provider’s stock valued at $23,884,000 after purchasing an additional 238,946 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Safety Insurance Group by 62.6% in the fourth quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider’s stock valued at $23,741,000 after purchasing an additional 117,261 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in Safety Insurance Group by 20.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 300,000 shares of the insurance provider’s stock worth $23,373,000 after purchasing an additional 51,400 shares during the period. 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.