Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells $900,121.32 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 11,487 shares of Safety Insurance Group stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $78.36, for a total value of $900,121.32. Following the transaction, the insider owned 1,821,510 shares in the company, valued at approximately $142,733,523.60. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Corp Srb also recently made the following trade(s):

• On Wednesday, February 25th, Corp Srb sold 2,147 shares of Safety Insurance Group stock. The stock was 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 shares were sold at an average price of $77.48, for a total transaction of $316,815.72.

Safety Insurance Group Stock Down 0.2%

Shares of NASDAQ SAFT opened at $77.63 on Monday. The company has a market capitalization of $1.16 billion, a P/E ratio of 11.59 and a beta of 0.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.41. The company has a 50 day simple moving average of $77.72 and a 200-day simple moving average of $74.82. Safety Insurance Group, Inc. has a 1 year low of $67.04 and a 1 year high of $84.20.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.23. Safety Insurance Group had a return on equity of 9.64% and a net margin of 7.85%.The company had revenue of $319.34 million during the quarter.

Safety Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, March 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is presently 54.93%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SAFT shares. Wall Street Zen raised shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Institutional Trading of Safety Insurance Group

Several hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in shares of Safety Insurance Group by 9.9% in the first quarter. Royal Bank of Canada now owns 10,148 shares of the insurance provider’s stock valued at $801,000 after purchasing an additional 914 shares during the period. AQR Capital Management LLC boosted its position in Safety Insurance Group by 19.7% in the 1st quarter. AQR Capital Management LLC now owns 34,093 shares of the insurance provider’s stock valued at $2,689,000 after buying an additional 5,619 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Safety Insurance Group by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock valued at $689,000 after buying an additional 389 shares during the period. Millennium Management LLC grew its stake in shares of Safety Insurance Group by 284.9% in the first quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock worth $6,765,000 after acquiring an additional 63,480 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Safety Insurance Group by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,747 shares of the insurance provider’s stock worth $2,662,000 after acquiring an additional 3,011 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.