Insider Selling: Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells 38,835 Shares of Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 38,835 shares of Safety Insurance Group stock in a transaction that occurred on 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 transaction, the insider owned 1,713,739 shares of the company’s stock, valued at approximately $176,652,216.12. This trade represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, July 13th, Corp Srb sold 34,272 shares of Safety Insurance Group stock. The shares were sold at an average price of $76.04, for a total value 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 value of $202,751.50.

Safety Insurance Group Trading Up 0.1%

SAFT traded up $0.10 during trading on Tuesday, reaching $103.09. The company had a trading volume of 155,829 shares, compared to its average volume of 120,587. The stock has a market cap of $1.51 billion, a P/E ratio of 24.37 and a beta of 0.21. The business has a 50 day simple moving average of $74.10 and a 200-day simple moving average of $74.94. Safety Insurance Group, Inc. has a 52 week low of $67.04 and a 52 week high of $103.50. 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 quarterly earnings data on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. The firm had revenue of $314.67 million for the quarter, compared to the consensus estimate of $315.01 million. On average, equities analysts anticipate that Safety Insurance Group, Inc. will post 4.75 EPS for the current fiscal year.

Safety Insurance Group Announces Dividend

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

Institutional Investors Weigh In On Safety Insurance Group

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings in 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 buying an additional 238,946 shares during the period. AQR Capital Management LLC boosted its stake in Safety Insurance Group by 62.6% in the fourth quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider’s stock valued at $23,741,000 after acquiring an additional 117,261 shares in the last quarter. Millennium Management LLC grew its holdings in Safety Insurance Group by 224.8% in the third quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider’s stock worth $9,879,000 after purchasing an additional 96,728 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Safety Insurance Group by 175.5% during the third quarter. Qube Research & Technologies Ltd now owns 116,269 shares of the insurance provider’s stock worth $8,219,000 after purchasing an additional 74,059 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Safety Insurance Group by 388.0% during the third quarter. Two Sigma Investments LP now owns 86,026 shares of the insurance provider’s stock worth $6,081,000 after purchasing an additional 68,399 shares in the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SAFT shares. Wall Street Zen raised 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 note on Wednesday, May 27th. Finally, Weiss Ratings upgraded Safety Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Safety Insurance Group presently has a consensus rating of “Hold”.

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.