Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 4,089 Shares

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 4,089 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $77.48, for a total value of $316,815.72. Following the transaction, the insider directly owned 1,838,195 shares of the company’s stock, valued at $142,423,348.60. This represents a 0.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $249,239.34.

Safety Insurance Group Stock Up 1.3%

Shares of NASDAQ SAFT traded up $1.02 during mid-day trading on Wednesday, reaching $78.46. 61,248 shares of the company traded hands, compared to its average volume of 74,555. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market cap of $1.17 billion, a PE ratio of 13.32 and a beta of 0.22. The company’s fifty day moving average is $77.80 and its two-hundred day moving average is $74.72. Safety Insurance Group, Inc. has a fifty-two week low of $67.04 and a fifty-two week high of $84.20.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.23. Safety Insurance Group had a net margin of 7.09% and a return on equity of 8.85%.

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.68 dividend on an annualized basis and a yield of 4.7%. Safety Insurance Group’s payout ratio is currently 62.48%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Institutional Trading of Safety Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of SAFT. Royal Bank of Canada raised its position in Safety Insurance Group by 9.9% in the first quarter. Royal Bank of Canada now owns 10,148 shares of the insurance provider’s stock valued at $801,000 after purchasing an additional 914 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Safety Insurance Group by 19.7% during the first quarter. AQR Capital Management LLC now owns 34,093 shares of the insurance provider’s stock worth $2,689,000 after acquiring an additional 5,619 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Safety Insurance Group by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock worth $689,000 after acquiring an additional 389 shares during the period. Millennium Management LLC boosted its holdings in Safety Insurance Group by 284.9% in the first quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock valued at $6,765,000 after acquiring an additional 63,480 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Safety Insurance Group by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,747 shares of the insurance provider’s stock valued at $2,662,000 after purchasing an additional 3,011 shares during the period. 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.