Safety Insurance Group (NASDAQ:SAFT) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $73.80 and traded as high as $79.74. Safety Insurance Group shares last traded at $79.29, with a volume of 51,571 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a report on Wednesday, October 8th. 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”.

Safety Insurance Group Price Performance

The stock has a market cap of $1.18 billion, a P/E ratio of 13.46 and a beta of 0.25. The company has a 50 day simple moving average of $74.38 and a 200 day simple moving average of $73.80. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.03.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Monday, November 3rd. The insurance provider reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.32). The business had revenue of $323.21 million for the quarter. Safety Insurance Group had a return on equity of 8.85% and a net margin of 7.09%.

Safety Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, December 1st. Safety Insurance Group’s payout ratio is presently 62.48%.

Hedge Funds Weigh In On Safety Insurance Group

Several hedge funds have recently modified their holdings of SAFT. Creative Planning grew its stake in Safety Insurance Group by 289.2% in the second quarter. Creative Planning now owns 17,956 shares of the insurance provider’s stock valued at $1,426,000 after purchasing an additional 13,342 shares in the last quarter. Nuveen LLC bought a new stake in shares of Safety Insurance Group during the 1st quarter worth approximately $2,931,000. Panagora Asset Management Inc. acquired a new stake in shares of Safety Insurance Group in the 1st quarter valued at approximately $1,544,000. Ballentine Partners LLC acquired a new stake in shares of Safety Insurance Group in the 2nd quarter valued at approximately $306,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Safety Insurance Group by 2.0% in the second quarter. Exchange Traded Concepts LLC now owns 10,648 shares of the insurance provider’s stock valued at $845,000 after buying an additional 204 shares in the last quarter. Institutional investors 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.