Short Interest in Safety Insurance Group, Inc. (NASDAQ:SAFT) Declines By 30.3%

Key Points

• Safety Insurance Group's short interest decreased by 30.3% in August, falling to 103,900 shares, with only 0.7% of shares currently sold short.
• Director Dennis J. Langwell increased their holdings by 33.33% after purchasing 2,000 shares at an average price of $72.39, bringing their total to 8,000 shares.
• The company announced a quarterly dividend of $0.92, up from the previous $0.90, yielding 5.1% annually.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 103,900 shares, a decline of 30.3% from the August 15th total of 149,100 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 93,700 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 93,700 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.7% of the shares of the company are sold short.

Safety Insurance Group Trading Down 1.4%

Shares of NASDAQ SAFT traded down $1.00 during trading on Friday, reaching $71.59. The company had a trading volume of 180,463 shares, compared to its average volume of 87,851. The company's fifty day moving average price is $72.46 and its 200-day moving average price is $76.25. Safety Insurance Group has a 12 month low of $68.76 and a 12 month high of $90.00. The stock has a market cap of $1.07 billion, a P/E ratio of 12.54 and a beta of 0.28. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.03.

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

Safety Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 5.1%. This is a boost from Safety Insurance Group's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, September 2nd. Safety Insurance Group's dividend payout ratio (DPR) is currently 64.45%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Safety Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, August 9th.

Insiders Place Their Bets

In related news, Director Dennis J. Langwell acquired 2,000 shares of the company's stock in a transaction on Friday, September 5th. The stock was purchased at an average cost of $72.39 per share, with a total value of $144,780.00. Following the acquisition, the director directly owned 8,000 shares of the company's stock, valued at approximately $579,120. The trade was a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders acquired 4,055 shares of company stock valued at $291,705. 2.00% of the stock is owned by insiders.

Institutional Trading of Safety Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital Advisors Ltd. LLC increased its position in shares of Safety Insurance Group by 15,950.0% during the second quarter. Capital Advisors Ltd. LLC now owns 321 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 319 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Safety Insurance Group during the fourth quarter valued at approximately $34,000. Parallel Advisors LLC increased its position in shares of Safety Insurance Group by 169.9% during the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 282 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Safety Insurance Group by 1,317.1% during the second quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 461 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Safety Insurance Group by 67.9% in the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock worth $64,000 after buying an additional 328 shares during the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.

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.