Safety Insurance Group (NASDAQ:SAFT) Sets New 12-Month High - Should You Buy?

Key Points

• Safety Insurance Group reached a new 52-week high, trading as high as $104.36 and closing near that level. Its market capitalization is approximately $1.53 billion, with shares up about 0.3%.
• Analyst sentiment is moderately positive: Weiss Ratings upgraded the stock to “buy (b),” while coverage consists of one Buy and one Hold rating.
• The company exceeded quarterly EPS expectations with $2.03 versus $2.00 expected and declared a quarterly dividend of $0.92, representing a 3.5% annualized yield. Institutional investors own approximately 81% of the shares.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report)'s stock price reached a new 52-week high on Monday. The stock traded as high as $104.36 and last traded at $104.31, with a volume of 41,790 shares trading hands. The stock had previously closed at $103.90.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Safety Insurance Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Safety Insurance Group Trading Up 0.3%

The business has a 50 day moving average of $103.70 and a two-hundred day moving average of $84.66. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 22.47 and a beta of 0.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.41 and a current ratio of 0.41.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.03. Safety Insurance Group had a return on equity of 7.23% and a net margin of 5.33%. The firm had revenue of $325.68 million during the quarter, compared to analysts' expectations of $325.68 million. Equities analysts predict that Safety Insurance Group, Inc. will post 4.15 EPS for the current year.

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.68 annualized dividend and a yield of 3.5%. Safety Insurance Group's dividend payout ratio (DPR) is presently 79.31%.

Institutional Trading of Safety Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. bought a new position in shares of Safety Insurance Group during the third quarter valued at about $64,000. ProShare Advisors LLC bought a new stake in Safety Insurance Group in the 3rd quarter worth about $576,000. Vise Technologies Inc. purchased a new stake in Safety Insurance Group in the 3rd quarter valued at about $220,000. Transmarket Holdings LP purchased a new stake in Safety Insurance Group in the 3rd quarter valued at about $722,000. Finally, Signaturefd LLC lifted its position in shares of Safety Insurance Group by 613.5% during the 3rd quarter. Signaturefd LLC now owns 792 shares of the insurance provider's stock worth $82,000 after buying an additional 681 shares in the last quarter. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is an insurance holding company that provides property and casualty insurance products primarily through its subsidiary, Safety Insurance Company. The company focuses on personal and commercial insurance coverage for individuals, families, and businesses.

Its product offerings include private passenger automobile insurance, homeowners insurance, dwelling fire coverage, business owners policies, commercial automobile insurance, and related property and liability products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.