Safety Insurance Group (NASDAQ:SAFT) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Safety Insurance Group (NASDAQ:SAFTGet Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the insurance provider’s stock.

Safety Insurance Group Trading Down 4.3 %

Shares of NASDAQ SAFT opened at $72.54 on Thursday. Safety Insurance Group has a twelve month low of $71.33 and a twelve month high of $99.75. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $82.99 and its 200-day moving average is $84.50. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 23.03 and a beta of 0.30.

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, February 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.96%. Safety Insurance Group’s payout ratio is 114.29%.

Insider Buying and Selling

In related news, VP James Berry sold 328 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $81.30, for a total transaction of $26,666.40. Following the sale, the vice president now directly owns 29,233 shares in the company, valued at $2,376,642.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,405 shares of company stock worth $112,749 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Safety Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAFT. Victory Capital Management Inc. increased its stake in Safety Insurance Group by 28.7% in the 3rd quarter. Victory Capital Management Inc. now owns 824,037 shares of the insurance provider’s stock valued at $67,208,000 after buying an additional 183,909 shares during the last quarter. State Street Corp grew its position in shares of Safety Insurance Group by 32.6% in the 1st quarter. State Street Corp now owns 705,940 shares of the insurance provider’s stock valued at $64,135,000 after acquiring an additional 173,482 shares during the period. JPMorgan Chase & Co. grew its position in shares of Safety Insurance Group by 39.1% in the 4th quarter. JPMorgan Chase & Co. now owns 201,262 shares of the insurance provider’s stock valued at $16,959,000 after acquiring an additional 56,572 shares during the period. Vanguard Group Inc. grew its position in shares of Safety Insurance Group by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,620,184 shares of the insurance provider’s stock valued at $132,143,000 after acquiring an additional 49,842 shares during the period. Finally, Northstar Asset Management Inc. bought a new position in shares of Safety Insurance Group in the 4th quarter valued at about $3,811,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Safety Insurance Group Company Profile

(Get Rating)

Safety Insurance Group, Inc engages in the management and provision of insurance services. It offers property and casualty insurance products which include commercial vehicles and fleets. The firm provides private passenger automobile, commercial automobile and homeowners insurance. The company was founded in 1979 and is headquartered in Boston, MA.

Featured Stories

Receive News & Ratings for Safety Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safety Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.