Insider Selling: Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells 1,199 Shares of Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 1,199 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $73.06, for a total value of $87,598.94. Following the sale, the insider directly owned 1,808,806 shares in the company, valued at $132,151,366.36. This represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 shares were sold at an average price of $78.36, for a total value of $900,121.32.
• On Wednesday, February 25th, Corp Srb sold 2,147 shares of Safety Insurance Group stock. The stock was sold at an average price of $78.29, for a total value of $168,088.63.
• On Tuesday, February 24th, Corp Srb sold 3,231 shares of Safety Insurance Group stock. The stock was 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 value of $316,815.72.

Safety Insurance Group Stock Performance

NASDAQ:SAFT traded up $0.33 during trading hours on Thursday, reaching $72.40. The company had a trading volume of 83,237 shares, compared to its average volume of 74,820. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. Safety Insurance Group, Inc. has a 1-year low of $67.04 and a 1-year high of $84.20. The business’s 50 day moving average price is $76.69 and its 200-day moving average price is $74.81. The firm has a market cap of $1.06 billion, a PE ratio of 10.81 and a beta of 0.21.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Wednesday, February 25th. The insurance provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.23. The business had revenue of $319.34 million for the quarter. Safety Insurance Group had a net margin of 7.85% and a return on equity of 9.64%.

Safety Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 5.1%. The ex-dividend date was Monday, March 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is currently 54.93%.

Institutional Investors Weigh In On Safety Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bayban acquired a new position in Safety Insurance Group during the fourth quarter worth $31,000. Dean Capital Management grew its position in shares of Safety Insurance Group by 420.1% in the fourth quarter. Dean Capital Management now owns 33,261 shares of the insurance provider’s stock valued at $2,591,000 after purchasing an additional 26,866 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Safety Insurance Group by 36.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,559 shares of the insurance provider’s stock worth $745,000 after purchasing an additional 2,546 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Safety Insurance Group by 2.8% during the fourth quarter. XTX Topco Ltd now owns 4,745 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 127 shares in the last quarter. Finally, Engineers Gate Manager LP raised its position in shares of Safety Insurance Group by 3.3% during the 4th quarter. Engineers Gate Manager LP now owns 9,004 shares of the insurance provider’s stock worth $702,000 after purchasing an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SAFT. Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a research report on Thursday, January 22nd. Wall Street Zen upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Safety Insurance Group presently has an average 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.