Corp Srb Sells 34,272 Shares of Safety Insurance Group (NASDAQ:SAFT) Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 34,272 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $76.04, for a total value of $2,606,042.88. Following the completion of the sale, the insider directly owned 1,757,733 shares in the company, valued at $133,658,017.32. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major 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, July 9th, Corp Srb sold 2,650 shares of Safety Insurance Group stock. The stock was sold at an average price of $76.51, for a total value of $202,751.50.

Safety Insurance Group Stock Performance

Shares of SAFT stock opened at $74.82 on Wednesday. The stock has a fifty day moving average of $72.57 and a 200 day moving average of $74.78. Safety Insurance Group, Inc. has a 52 week low of $67.04 and a 52 week high of $81.49. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 17.69 and a beta of 0.21. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. The company had revenue of $314.67 million for the quarter, compared to analysts’ expectations of $315.01 million. As a group, research analysts expect that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current year.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were issued a $0.92 dividend. The ex-dividend date was Monday, June 1st. This represents a $3.68 annualized dividend and a yield of 4.9%. Safety Insurance Group’s dividend payout ratio (DPR) is 87.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in Safety Insurance Group by 9.9% during the 1st quarter. Royal Bank of Canada now owns 10,148 shares of the insurance provider’s stock valued at $801,000 after acquiring an additional 914 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Safety Insurance Group by 19.7% during the 1st quarter. AQR Capital Management LLC now owns 34,093 shares of the insurance provider’s stock valued at $2,689,000 after buying an additional 5,619 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Safety Insurance Group by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock valued at $689,000 after buying an additional 389 shares during the period. Millennium Management LLC boosted its stake in shares of Safety Insurance Group by 284.9% in the 1st quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock worth $6,765,000 after buying an additional 63,480 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Safety Insurance Group by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,747 shares of the insurance provider’s stock worth $2,662,000 after acquiring an additional 3,011 shares during the period. 81.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SAFT has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a research report on Friday, May 29th. Zacks Research raised Safety Insurance Group to a “hold” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded Safety Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock 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.