Safety Insurance Group (NASDAQ:SAFT) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Safety Insurance Group, Inc. (NASDAQ:SAFT)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $85.02 and traded as high as $104.00. Safety Insurance Group shares last traded at $103.94, with a volume of 112,695 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Safety Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 17th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Safety Insurance Group Stock Down 0.1%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a fifty day simple moving average of $103.52 and a 200-day simple moving average of $85.15. The company has a market capitalization of $1.52 billion, a PE ratio of 22.38 and a beta of 0.15.

Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Wednesday, August 5th. The insurance provider reported $2.03 EPS for the quarter, beating the consensus estimate of $2.00 by $0.03. The company had revenue of $325.68 million during the quarter, compared to analysts’ expectations of $325.68 million. Safety Insurance Group had a return on equity of 7.23% and a net margin of 5.33%. Equities research analysts anticipate that Safety Insurance Group, Inc. will post 4.75 EPS for the current fiscal year.

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 1st. Safety Insurance Group’s dividend payout ratio (DPR) is currently 79.31%.

Insider Buying and Selling at Safety Insurance Group

In other news, major shareholder Corp Srb sold 1,240,352 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $103.07, for a total value of $127,843,080.64. Following the sale, the insider owned 473,387 shares in the company, valued at approximately $48,791,998.09. This represents a 72.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 1,313,459 shares of company stock valued at $134,452,235. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Safety Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of SAFT. Bayban bought a new position in Safety Insurance Group during the 4th quarter worth approximately $31,000. Global Retirement Partners LLC bought a new stake in shares of Safety Insurance Group in the 2nd quarter valued at approximately $42,000. Allworth Financial LP bought a new stake in shares of Safety Insurance Group in the 2nd quarter valued at approximately $44,000. Motiv8 Investments LLC acquired a new stake in shares of Safety Insurance Group during the 4th quarter valued at approximately $58,000. Finally, Farther Finance Advisors LLC raised its position in shares of Safety Insurance Group by 588.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 998 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 853 shares in the last quarter. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc (NASDAQ:SAFT) is an insurance holding company headquartered in Boston, Massachusetts. Through its subsidiaries, including Safety Insurance Company, the company provides property and casualty insurance products to individuals and businesses.

Its principal offerings include private passenger and commercial automobile insurance, homeowners insurance, businessowners policies, dwelling fire coverage, umbrella insurance and workers’ compensation insurance. Safety distributes its products primarily through a network of independent insurance agents and provides related policy administration and claims services.

The company primarily serves customers in New England, with operations focused on Massachusetts, New Hampshire and Maine.