Corp Srb Sells 2,147 Shares of Safety Insurance Group (NASDAQ:SAFT) Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 2,147 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $78.29, for a total value of $168,088.63. Following the transaction, the insider directly owned 1,832,817 shares of the company’s stock, valued at approximately $143,491,242.93. This represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, February 26th, Corp Srb sold 11,487 shares of Safety Insurance Group stock. The stock was sold at an average price of $78.36, for a total value of $900,121.32.
• On Tuesday, February 24th, Corp Srb sold 3,231 shares of Safety Insurance Group stock. The shares were sold at an average price of $77.14, for a total value of $249,239.34.
• On Monday, February 23rd, Corp Srb sold 4,089 shares of Safety Insurance Group stock. The shares were sold at an average price of $77.48, for a total transaction of $316,815.72.

Safety Insurance Group Stock Down 0.2%

Shares of NASDAQ SAFT opened at $77.63 on Friday. The business has a 50-day moving average price of $77.72 and a 200 day moving average price of $74.81. Safety Insurance Group, Inc. has a 52-week low of $67.04 and a 52-week high of $84.20. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.16 billion, a PE ratio of 11.59 and a beta of 0.22.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.28 by $0.23. Safety Insurance Group had a return on equity of 9.69% and a net margin of 7.85%.The business had revenue of $319.34 million during the quarter.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.68 annualized dividend and a yield of 4.7%. Safety Insurance Group’s payout ratio is currently 54.93%.

Analyst Ratings Changes

Several equities research analysts have issued reports on SAFT shares. Wall Street Zen raised shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Safety Insurance Group currently has a consensus rating of “Hold”.

Institutional Trading of Safety Insurance Group

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Safety Insurance Group by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,661,343 shares of the insurance provider’s stock worth $129,435,000 after purchasing an additional 29,511 shares in the last quarter. JPMorgan Chase & Co. increased its position in Safety Insurance Group by 67.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 310,072 shares of the insurance provider’s stock valued at $24,617,000 after acquiring an additional 125,398 shares during the period. Goldman Sachs Group Inc. raised 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 valued at $23,884,000 after purchasing an additional 238,946 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Safety Insurance Group by 62.6% during the 4th quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider’s stock worth $23,741,000 after buying an additional 117,261 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Safety Insurance Group by 20.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 300,000 shares of the insurance provider’s stock worth $23,373,000 after purchasing an additional 51,400 shares in the last quarter. Institutional investors and hedge funds 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.