Safety Insurance Group (NASDAQ:SAFT) Hits New 52-Week High – Here’s Why

Safety Insurance Group, Inc. (NASDAQ:SAFT) reached a new 52-week high during trading on Tuesday. The stock traded as high as $104.41 and last traded at $104.3750, with a volume of 1,338 shares traded. The stock had previously closed at $104.27.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Safety Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Safety Insurance Group Trading Down 0.0%

The company’s fifty day moving average is $103.77 and its 200-day moving average is $85.52. The company has a market capitalization of $1.53 billion, a PE ratio of 21.84 and a beta of 0.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.41 and a quick ratio of 0.41.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.25 by $0.70. Safety Insurance Group had a return on equity of 7.23% and a net margin of 5.33%. The firm had revenue of $327.77 million during the quarter, compared to analyst estimates of $327.77 million. On average, analysts anticipate that Safety Insurance Group, Inc. will post 4.15 EPS for the current fiscal year.

Safety Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.5%. Safety Insurance Group’s dividend payout ratio is presently 76.99%.

Hedge Funds Weigh In On Safety Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of SAFT. Susquehanna Fundamental Investments LLC raised its position in shares of Safety Insurance Group by 2.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 7,086 shares of the insurance provider’s stock worth $530,000 after acquiring an additional 181 shares during the period. Nisa Investment Advisors LLC raised its stake in Safety Insurance Group by 12.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,360 shares of the insurance provider’s stock valued at $244,000 after purchasing an additional 262 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Safety Insurance Group by 0.3% in the first quarter. Renaissance Technologies LLC now owns 140,400 shares of the insurance provider’s stock valued at $10,199,000 after buying an additional 400 shares during the last quarter. GAMMA Investing LLC lifted its stake in Safety Insurance Group by 21.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,622 shares of the insurance provider’s stock worth $272,000 after purchasing an additional 464 shares in the last quarter. Finally, Virtus Advisers LLC lifted its position in Safety Insurance Group by 16.8% during the third quarter. Virtus Advisers LLC now owns 3,672 shares of the insurance provider’s stock worth $380,000 after buying an additional 527 shares in the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.

About Safety Insurance Group