Key Points
- Major shareholder Corp Srb sold 34,272 shares of Safety Insurance Group on July 13 at an average price of $76.04, totaling about $2.61 million. After the sale, the insider still owned 1,757,733 shares, worth roughly $133.7 million.
- The stock was down 2.3% and recently opened at $73.11, with a market cap of about $1.07 billion. Safety Insurance Group has traded between $67.04 and $81.49 over the past 12 months.
- Recent earnings missed expectations, with the company reporting EPS of -$0.72 versus the $1.45 consensus, while revenue came in roughly in line. The company also paid a quarterly dividend of $0.92, implying a 5.0% annualized yield.
Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) major shareholder Corp Srb sold 34,272 shares of the business's stock in a transaction on Monday, July 13th. The stock was sold at an average price of $76.04, for a total transaction of $2,606,042.88. Following the completion of the sale, the insider directly owned 1,757,733 shares in the company, valued at approximately $133,658,017.32. This represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 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 shares were sold at an average price of $76.51, for a total value of $202,751.50.
Safety Insurance Group Stock Down 2.3%
Shares of NASDAQ:SAFT opened at $73.11 on Thursday. The firm has a market cap of $1.07 billion, a P/E ratio of 17.28 and a beta of 0.21. Safety Insurance Group, Inc. has a 12-month low of $67.04 and a 12-month high of $81.49. The business has a fifty day simple moving average of $72.55 and a 200 day simple moving average of $74.74. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of $1.45 by ($2.17). The company had revenue of $314.67 million during the quarter, compared to the consensus estimate of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. Analysts predict 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. Investors of record on Monday, June 1st were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, June 1st. Safety Insurance Group's payout ratio is currently 87.00%.
Institutional Investors Weigh In On Safety Insurance Group
Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in Safety Insurance Group by 353.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 306,554 shares of the insurance provider's stock valued at $23,884,000 after buying an additional 238,946 shares during the period. AQR Capital Management LLC grew its position in shares of Safety Insurance Group by 62.6% during the 4th quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider's stock worth $23,741,000 after buying an additional 117,261 shares during the period. Millennium Management LLC grew its position in shares of Safety Insurance Group by 224.8% during the 3rd quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider's stock worth $9,879,000 after buying an additional 96,728 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Safety Insurance Group by 175.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 116,269 shares of the insurance provider's stock valued at $8,219,000 after acquiring an additional 74,059 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Safety Insurance Group by 388.0% during the 3rd quarter. Two Sigma Investments LP now owns 86,026 shares of the insurance provider's stock valued at $6,081,000 after acquiring an additional 68,399 shares during the period. Institutional investors and hedge funds own 81.04% of the company's stock.
Analyst Upgrades and Downgrades
SAFT has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Safety Insurance Group in a research report on Friday, May 29th. Wall Street Zen raised shares of Safety Insurance Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, Zacks Research raised shares of Safety Insurance Group to a "hold" rating in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold".
View Our Latest Analysis 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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