Safety Insurance Group (NASDAQ:SAFT) Sees Large Volume Increase – What’s Next?

Safety Insurance Group, Inc. (NASDAQ:SAFT) saw an uptick in trading volume on Monday . Approximately 63,355 shares changed hands during trading, a decline of 41% from the previous session’s volume of 106,617 shares.The stock last traded at $103.33 and had previously closed at $103.20.

Analyst Ratings Changes

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

Safety Insurance Group Trading Down 0.1%

The company has a 50 day moving average of $73.49 and a 200 day moving average of $74.75. The firm has a market cap of $1.51 billion, a P/E ratio of 24.38 and a beta of 0.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data 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). The business had revenue of $314.67 million for the quarter, compared to the consensus estimate of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. Analysts predict that Safety Insurance Group, Inc. will post 4.75 EPS for the current fiscal year.

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were issued a dividend of $0.92 per share. The ex-dividend date was Monday, June 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.6%. Safety Insurance Group’s dividend payout ratio (DPR) is currently 87.00%.

Insider Activity

In related news, major shareholder Corp Srb sold 34,272 shares of the company’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $76.04, for a total value of $2,606,042.88. Following the completion of the sale, the insider directly owned 1,757,733 shares in the company, valued at approximately $133,658,017.32. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Institutional Trading of Safety Insurance Group

Several large investors have recently made changes to their positions in SAFT. Allworth Financial LP lifted its holdings in Safety Insurance Group by 74.8% in the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Bayban bought a new position in shares of Safety Insurance Group in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. lifted its stake in shares of Safety Insurance Group by 62.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after buying an additional 160 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Safety Insurance Group by 419.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock worth $38,000 after buying an additional 394 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Safety Insurance Group by 653.0% during the 4th quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock worth $39,000 after buying an additional 431 shares during the period. 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.