Safety Insurance Group (NASDAQ:SAFT) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $74.96 and traded as high as $75.44. Safety Insurance Group shares last traded at $75.21, with a volume of 415,408 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SAFT shares. Wall Street Zen upgraded shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research raised Safety Insurance Group to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a research note on Friday, May 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Safety Insurance Group Stock Performance

The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 17.78 and a beta of 0.21. The company’s fifty day simple moving average is $72.46 and its 200 day simple moving average is $74.96. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06.

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

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were given a dividend of $0.92 per share. The ex-dividend date was Monday, June 1st. This represents a $3.68 annualized dividend and a yield of 4.9%. Safety Insurance Group’s dividend payout ratio (DPR) is 87.00%.

Institutional Investors Weigh In On Safety Insurance Group

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Safety Insurance Group by 353.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 306,554 shares of the insurance provider’s stock worth $23,884,000 after purchasing an additional 238,946 shares during the period. AQR Capital Management LLC boosted its stake in Safety Insurance Group by 62.6% in the 4th quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider’s stock valued at $23,741,000 after purchasing an additional 117,261 shares during the period. Millennium Management LLC boosted its stake in Safety Insurance Group by 224.8% in the 3rd quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider’s stock valued at $9,879,000 after purchasing an additional 96,728 shares during the period. Qube Research & Technologies Ltd grew its holdings in Safety Insurance Group by 175.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 116,269 shares of the insurance provider’s stock valued at $8,219,000 after buying an additional 74,059 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in Safety Insurance Group by 388.0% in the 3rd quarter. Two Sigma Investments LP now owns 86,026 shares of the insurance provider’s stock valued at $6,081,000 after buying an additional 68,399 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.