Safety Insurance Group (NASDAQ:SAFT) Sets New 1-Year High – Should You Buy?

Safety Insurance Group, Inc. (NASDAQ:SAFT) shares reached a new 52-week high during trading on Monday. The stock traded as high as $104.17 and last traded at $104.16, with a volume of 78,043 shares traded. The stock had previously closed at $104.16.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Safety Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Safety Insurance Group has an average rating of “Moderate Buy”.

Safety Insurance Group Price Performance

The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 22.44 and a beta of 0.15. The company’s 50 day moving average is $103.63 and its 200 day moving average is $87.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.41 and a quick ratio of 0.41.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.03. The business had revenue of $325.68 million during the quarter, compared to analyst estimates of $325.68 million. Safety Insurance Group had a net margin of 5.33% and a return on equity of 7.23%. Research analysts forecast that Safety Insurance Group, Inc. will post 4.15 earnings per share for the current fiscal year.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.92 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $3.68 dividend on an annualized basis and a yield of 3.5%. Safety Insurance Group’s dividend payout ratio (DPR) is presently 79.31%.

Institutional Trading of Safety Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of SAFT. Global Retirement Partners LLC acquired a new position in Safety Insurance Group during the second quarter valued at approximately $42,000. Allworth Financial LP purchased a new position in Safety Insurance Group in the second quarter valued at about $44,000. Signaturefd LLC boosted its position in shares of Safety Insurance Group by 613.5% in the third quarter. Signaturefd LLC now owns 792 shares of the insurance provider’s stock worth $82,000 after buying an additional 681 shares during the period. Farther Finance Advisors LLC lifted its position in Safety Insurance Group by 588.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 998 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 853 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Safety Insurance Group during the second quarter valued at approximately $118,000. Institutional investors and hedge funds own 81.04% of the company’s stock.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is an insurance holding company that provides property and casualty insurance products primarily through its subsidiary, Safety Insurance Company. The company focuses on personal and commercial insurance coverage for individuals, families, and businesses.

Its product offerings include private passenger automobile insurance, homeowners insurance, dwelling fire coverage, business owners policies, commercial automobile insurance, and related property and liability products.