Key Points
- Corp Srb insider sales: Major shareholder Corp Srb sold 4,089 shares on Feb 23 for $316,815.72 and an additional 3,231 shares on Feb 24 for $249,239.34, trimming its position by 0.22% to 1,838,195 shares valued at about $142.4M.
- Earnings beat and dividend: Safety Insurance reported quarterly EPS of $1.51 vs. $1.28 expected on $319.34M revenue and declared a $0.92 quarterly dividend (annualized $3.68) with a 4.6% yield and an ex-dividend date of March 2.
- Market snapshot: SAFT traded up to $79.46 (52-week range $67.04–$84.20) with a market cap of roughly $1.18B, a P/E of 13.49, and about 81% institutional ownership.
Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) major shareholder Corp Srb sold 3,231 shares of the company's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $77.14, for a total value of $249,239.34. Following the completion of the sale, the insider directly owned 1,834,964 shares of the company's stock, valued at $141,549,122.96. The trade was a 0.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 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 Monday, February 23rd, Corp Srb sold 4,089 shares of Safety Insurance Group stock. The stock was sold at an average price of $77.48, for a total transaction of $316,815.72.
Safety Insurance Group Price Performance
Shares of Safety Insurance Group stock traded down $0.91 during trading on Thursday, hitting $77.55. The stock had a trading volume of 16,838 shares, compared to its average volume of 72,907. Safety Insurance Group, Inc. has a fifty-two week low of $67.04 and a fifty-two week high of $84.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market cap of $1.15 billion, a P/E ratio of 13.22 and a beta of 0.22. The business has a fifty day moving average of $77.78 and a two-hundred day moving average of $74.74.
Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its 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 return on equity of 8.85% and a net margin of 7.09%.The company had revenue of $319.34 million during the quarter.
Safety Insurance Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, March 2nd. Safety Insurance Group's payout ratio is 62.48%.
Institutional Trading of Safety Insurance Group
Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings 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 buying an additional 914 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Safety Insurance Group by 19.7% in the 1st quarter. AQR Capital Management LLC now owns 34,093 shares of the insurance provider's stock worth $2,689,000 after buying an additional 5,619 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Safety Insurance Group by 4.7% in the 1st 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 in the last quarter. Millennium Management LLC lifted its holdings in 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 purchasing an additional 63,480 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Safety Insurance Group by 9.8% in 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 acquiring an additional 3,011 shares during the last quarter. 81.04% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Safety Insurance Group in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".
Get Our Latest Report on Safety Insurance Group
About Safety Insurance Group
(
Get Free Report)
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.
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