Safety Insurance Group (NASDAQ:SAFT) Shares Up 3.3% – Here’s What Happened

Safety Insurance Group, Inc. (NASDAQ:SAFT)’s stock price shot up 3.3% during trading on Tuesday . The company traded as high as $76.26 and last traded at $75.46. 41,642 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 53,318 shares. The stock had previously closed at $73.02.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th.

Safety Insurance Group Stock Performance

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.90 and a beta of 0.19. The business’s 50 day moving average is $77.74 and its 200-day moving average is $80.59.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). The company had revenue of $286.72 million during the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Monday, March 3rd. Safety Insurance Group’s dividend payout ratio is 75.47%.

Institutional Investors Weigh In On Safety Insurance Group

A number of hedge funds have recently made changes to their positions in the company. Signaturefd LLC grew its holdings in Safety Insurance Group by 94.9% during the 4th quarter. Signaturefd LLC now owns 308 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 150 shares during the period. Naples Global Advisors LLC raised its position in Safety Insurance Group by 1.3% during the fourth quarter. Naples Global Advisors LLC now owns 17,373 shares of the insurance provider’s stock worth $1,432,000 after acquiring an additional 225 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in shares of Safety Insurance Group by 1.6% during the 4th quarter. Anchor Capital Advisors LLC now owns 16,890 shares of the insurance provider’s stock worth $1,392,000 after acquiring an additional 268 shares during the period. Parallel Advisors LLC grew its stake in Safety Insurance Group by 169.9% in the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider’s stock valued at $35,000 after buying an additional 282 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of Safety Insurance Group by 2.3% in the fourth quarter. WINTON GROUP Ltd now owns 13,224 shares of the insurance provider’s stock valued at $1,090,000 after acquiring an additional 293 shares during the period. Institutional investors and hedge funds own 81.04% of the company’s stock.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile, and homeowner insurance in the United States. The company’s private passenger automobile policies offer coverage for bodily injury and property damage to others, no-fault personal injury coverage for the insured/insured’s car occupants, and physical damage coverage for an insured’s own vehicle for collision or other perils.