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Safety Insurance Group, Inc. (NASDAQ:SAFT) Director Buys $142,980.00 in Stock

Safety Insurance Group logo with Finance background

Key Points

  • Director Dennis J. Langwell purchased 2,000 shares of Safety Insurance stock for approximately $142,980, increasing their ownership by 50%.
  • Safety Insurance recently raised its quarterly dividend from $0.90 to $0.92 per share, representing an annualized yield of 5.1%.
  • The company reported $1.45 EPS for the last quarter, falling short of analysts' estimates of $1.60 EPS.
  • Looking to export and analyze Safety Insurance Group data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) Director Dennis J. Langwell bought 2,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was bought at an average cost of $71.49 per share, with a total value of $142,980.00. Following the transaction, the director directly owned 6,000 shares of the company's stock, valued at approximately $428,940. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Safety Insurance Group Stock Up 2.0%

SAFT traded up $1.40 on Monday, reaching $72.35. The company's stock had a trading volume of 170,913 shares, compared to its average volume of 64,610. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 12.67 and a beta of 0.26. Safety Insurance Group, Inc. has a 1 year low of $68.76 and a 1 year high of $90.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.42 and a quick ratio of 0.42. The business's 50 day moving average is $75.32 and its 200 day moving average is $77.20.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($0.15). Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%. The business had revenue of $345.83 million during the quarter.

Safety Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 2nd. This is an increase from Safety Insurance Group's previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a yield of 5.1%. Safety Insurance Group's payout ratio is currently 64.45%.

Institutional Trading of Safety Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC raised its stake in Safety Insurance Group by 34.9% during the second quarter. Intech Investment Management LLC now owns 9,660 shares of the insurance provider's stock valued at $767,000 after buying an additional 2,499 shares in the last quarter. Creative Planning raised its stake in Safety Insurance Group by 289.2% during the second quarter. Creative Planning now owns 17,956 shares of the insurance provider's stock valued at $1,426,000 after buying an additional 13,342 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Safety Insurance Group by 7.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,824 shares of the insurance provider's stock valued at $304,000 after buying an additional 273 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Safety Insurance Group by 49.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,362 shares of the insurance provider's stock valued at $1,458,000 after buying an additional 6,091 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Safety Insurance Group by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 209,828 shares of the insurance provider's stock valued at $16,658,000 after buying an additional 1,172 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Safety Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday.

Get Our Latest Report on Safety Insurance Group

About Safety Insurance Group

(Get Free Report)

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.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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