Short Interest in Safety Insurance Group, Inc. (NASDAQ:SAFT) Declines By 19.8%

Safety Insurance Group, Inc. (NASDAQ:SAFT) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 89,992 shares, a decline of 19.8% from the December 15th total of 112,156 shares. Based on an average daily volume of 82,289 shares, the short-interest ratio is presently 1.1 days. Approximately 0.6% of the company’s shares are sold short. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 82,289 shares, the short-interest ratio is presently 1.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Institutional Trading of Safety Insurance Group

Several hedge funds have recently bought and sold shares of the stock. Capital Advisors Ltd. LLC boosted its holdings in shares of Safety Insurance Group by 15,950.0% in the second quarter. Capital Advisors Ltd. LLC now owns 321 shares of the insurance provider’s stock valued at $25,000 after buying an additional 319 shares during the period. Blue Trust Inc. bought a new stake in Safety Insurance Group in the 3rd quarter valued at $35,000. EverSource Wealth Advisors LLC boosted its stake in Safety Insurance Group by 1,317.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 461 shares during the period. Triumph Capital Management bought a new position in Safety Insurance Group during the 3rd quarter worth about $95,000. Finally, GAMMA Investing LLC raised its stake in shares of Safety Insurance Group by 50.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,221 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 410 shares during the period. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Safety Insurance Group Price Performance

Shares of SAFT stock opened at $74.84 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.03. Safety Insurance Group has a 12-month low of $67.04 and a 12-month high of $84.20. The firm has a fifty day moving average of $76.89 and a 200-day moving average of $73.56. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 12.71 and a beta of 0.23.

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

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 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 was Monday, December 1st. Safety Insurance Group’s payout ratio is 62.48%.

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.