Key Points
- Major shareholder Corp Srb sold 2,650 shares of Safety Insurance Group at an average price of $76.51, totaling about $202,751.50. After the transaction, the insider still held 1,792,005 shares.
- SAFT shares slipped 0.5% in Friday trading to $75.55, with volume below average. The stock has a market cap of about $1.11 billion and a 52-week range of $67.04 to $81.49.
- The company recently missed quarterly earnings estimates, reporting EPS of -$0.72 versus the expected $1.45, while revenue came in roughly in line with forecasts. Safety Insurance also paid a quarterly dividend of $0.92 per share, implying a 4.9% yield.
Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) major shareholder Corp Srb sold 2,650 shares of the firm's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $76.51, for a total value of $202,751.50. Following the completion of the sale, the insider directly owned 1,792,005 shares of the company's stock, valued at $137,106,302.55. The trade was a 0.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Safety Insurance Group Trading Down 0.5%
Safety Insurance Group stock traded down $0.38 during mid-day trading on Friday, reaching $75.55. 60,598 shares of the company traded hands, compared to its average volume of 131,479. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. The firm's 50 day moving average price is $72.55 and its 200 day moving average price is $74.86. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 17.86 and a beta of 0.21. Safety Insurance Group, Inc. has a 52-week low of $67.04 and a 52-week high of $81.49.
Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The insurance provider reported ($0.72) EPS for the quarter, missing the consensus estimate of $1.45 by ($2.17). Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%.The company had revenue of $314.67 million during the quarter, compared to the consensus estimate of $315.01 million. On average, analysts anticipate that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current fiscal year.
Safety Insurance Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were given a dividend of $0.92 per share. The ex-dividend date was Monday, June 1st. This represents a $3.68 annualized dividend and a dividend yield of 4.9%. Safety Insurance Group's payout ratio is currently 87.00%.
Institutional Trading of Safety Insurance Group
A number of hedge funds have recently modified their holdings of SAFT. Tudor Investment Corp ET AL grew its position in shares of Safety Insurance Group by 285.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 28,204 shares of the insurance provider's stock worth $1,994,000 after buying an additional 20,892 shares during the period. TABR Capital Management LLC bought a new position in shares of Safety Insurance Group in the 4th quarter worth about $2,935,000. Teacher Retirement System of Texas lifted its position in Safety Insurance Group by 18.5% during the 4th quarter. Teacher Retirement System of Texas now owns 83,787 shares of the insurance provider's stock valued at $6,528,000 after acquiring an additional 13,082 shares during the period. Vanguard Group Inc. lifted its position in Safety Insurance Group by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,661,343 shares of the insurance provider's stock valued at $129,435,000 after acquiring an additional 29,511 shares during the period. Finally, UBS Group AG boosted its stake in Safety Insurance Group by 118.3% during the fourth quarter. UBS Group AG now owns 29,255 shares of the insurance provider's stock worth $2,279,000 after acquiring an additional 15,855 shares in the last quarter. Institutional investors own 81.04% of the company's stock.
Analysts Set New Price Targets
Several analysts have commented on SAFT shares. Wall Street Zen upgraded shares of Safety Insurance Group from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Zacks Research upgraded Safety Insurance Group to a "hold" rating in a report on Wednesday, May 27th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Safety Insurance Group in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Safety Insurance Group currently has an average rating of "Hold".
Check Out 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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