Insider Selling: Safety Insurance Group, Inc. (NASDAQ:SAFT) Director Sells $40,386.50 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT – Get Rating) Director Peter J. Manning sold 550 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $73.43, for a total value of $40,386.50. Following the sale, the director now owns 5,450 shares of the company’s stock, valued at approximately $400,193.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Safety Insurance Group Stock Performance

NASDAQ:SAFT opened at $72.13 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.06. Safety Insurance Group, Inc. has a 12-month low of $67.71 and a 12-month high of $99.75. The stock has a 50-day moving average price of $73.32 and a 200 day moving average price of $80.97. The stock has a market capitalization of $1.07 billion, a P/E ratio of 40.52 and a beta of 0.31.

Safety Insurance Group (NASDAQ:SAFT – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The insurance provider reported $0.98 EPS for the quarter. Safety Insurance Group had a return on equity of 5.81% and a net margin of 3.23%. The company had revenue of $226.60 million during the quarter.

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Wednesday, May 31st. Safety Insurance Group’s payout ratio is presently 202.25%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Safety Insurance Group in a research report on Thursday, May 18th. They set a “hold” rating for the company.

Hedge Funds Weigh In On Safety Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Safety Insurance Group by 1.2% during the third quarter. BlackRock Inc. now owns 2,155,884 shares of the insurance provider’s stock valued at $175,834,000 after buying an additional 24,611 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Safety Insurance Group by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,857,262 shares of the insurance provider’s stock valued at $151,478,000 after purchasing an additional 7,039 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 purchasing an additional 49,842 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Safety Insurance Group by 11.1% in the 1st quarter. Victory Capital Management Inc. now owns 959,488 shares of the insurance provider’s stock valued at $71,501,000 after purchasing an additional 95,751 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Safety Insurance Group by 1.6% in the 3rd quarter. State Street Corp now owns 763,881 shares of the insurance provider’s stock valued at $62,302,000 after purchasing an additional 11,874 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Safety Insurance Group Company Profile

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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.