Safety Insurance Group, Inc. (NASDAQ:SAFT) Plans $0.92 Quarterly Dividend

Safety Insurance Group, Inc. (NASDAQ:SAFT) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Tuesday, September 1st will be paid a dividend of 0.92 per share by the insurance provider on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 1st.

Safety Insurance Group has raised its dividend payment by an average of 0.0%per year over the last three years. Safety Insurance Group has a dividend payout ratio of 52.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Safety Insurance Group to earn $6.75 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 54.5%.

Safety Insurance Group Trading Up 0.2%

SAFT stock opened at $103.50 on Thursday. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 24.47 and a beta of 0.17. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $78.40 and a 200-day simple moving average of $76.28. Safety Insurance Group has a 52 week low of $67.04 and a 52 week high of $103.63.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results 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. Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%.The firm had revenue of $325.68 million for the quarter, compared to analysts’ expectations of $322.90 million. On average, equities research analysts expect that Safety Insurance Group will post 4.75 EPS for the current year.

Insider Activity

In other news, major shareholder Corp Srb sold 1,240,352 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $103.07, for a total value of $127,843,080.64. Following the completion of the sale, the insider owned 473,387 shares in the company, valued at approximately $48,791,998.09. This trade represents a 72.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 1,316,109 shares of company stock valued at $134,654,987 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Safety Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in shares of Safety Insurance Group by 5.8% during the first quarter. Bank of America Corp DE now owns 24,877 shares of the insurance provider’s stock valued at $1,807,000 after purchasing an additional 1,356 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Safety Insurance Group by 16.8% in the first quarter. Quantinno Capital Management LP now owns 19,525 shares of the insurance provider’s stock valued at $1,418,000 after purchasing an additional 2,813 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Safety Insurance Group by 0.3% in the first quarter. Renaissance Technologies LLC now owns 140,400 shares of the insurance provider’s stock valued at $10,199,000 after purchasing an additional 400 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Safety Insurance Group by 44.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 67,915 shares of the insurance provider’s stock valued at $4,933,000 after purchasing an additional 21,018 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Safety Insurance Group by 23.9% during the 1st quarter. Sei Investments Co. now owns 3,189 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 615 shares in the last quarter. Hedge funds and other 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.