Corp Srb Sells 38,835 Shares of Safety Insurance Group (NASDAQ:SAFT) Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 38,835 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $103.08, for a total value of $4,003,111.80. Following the completion of the sale, the insider directly owned 1,713,739 shares of the company’s stock, valued at $176,652,216.12. This represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, July 27th, Corp Srb sold 1,240,352 shares of Safety Insurance Group stock. The stock was sold at an average price of $103.07, for a total value of $127,843,080.64.
• On Monday, July 13th, Corp Srb sold 34,272 shares of Safety Insurance Group stock. The stock was sold at an average price of $76.04, for a total transaction of $2,606,042.88.
• On Thursday, July 9th, Corp Srb sold 2,650 shares of Safety Insurance Group stock. The shares were sold at an average price of $76.51, for a total transaction of $202,751.50.

Safety Insurance Group Trading Up 0.1%

Safety Insurance Group stock opened at $103.10 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The business’s 50-day simple moving average is $75.31 and its 200-day simple moving average is $75.31. The firm has a market capitalization of $1.51 billion, a PE ratio of 24.37 and a beta of 0.21. Safety Insurance Group, Inc. has a 52 week low of $67.04 and a 52 week high of $103.50.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%.The business had revenue of $314.67 million for the quarter, compared to analyst estimates of $315.01 million. Equities research analysts forecast that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current year.

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.68 annualized dividend and a yield of 3.6%. Safety Insurance Group’s dividend payout ratio is 87.00%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Safety Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. Zacks Research raised shares of Safety Insurance Group to a “hold” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded Safety Insurance Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SAFT. Allworth Financial LP increased its position in shares of Safety Insurance Group by 74.8% in the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. Bayban bought a new position in Safety Insurance Group in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. boosted its stake in Safety Insurance Group by 62.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 160 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of Safety Insurance Group by 419.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock worth $38,000 after buying an additional 394 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake 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 acquiring an additional 431 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

Safety Insurance Group Company Profile

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.