Safety Insurance Group (NASDAQ:SAFT) Sets New 12-Month Low - Here's Why

Key Points

• Safety Insurance Group's stock (NASDAQ:SAFT) hit a new 12-month low, trading at $69.62 before closing at $70.21, highlighting a concerning trend for investors.
• Despite recent performance issues, Wall Street analysts upgraded the stock from "hold" to "buy," indicating optimism for future growth.
• The company announced a quarterly dividend of $0.90 per share, yielding 5.13% annually, reflecting ongoing commitment to returning value to shareholders.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $69.62 and last traded at $70.21, with a volume of 58181 shares trading hands. The stock had previously closed at $70.52.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Safety Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Safety Insurance Group Trading Down 1.5%

The company has a market cap of $1.03 billion, a price-to-earnings ratio of 14.17 and a beta of 0.26. The company's 50 day moving average price is $76.52 and its 200 day moving average price is $77.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.42 and a current ratio of 0.42.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.03. The firm had revenue of $298.97 million during the quarter. Safety Insurance Group had a net margin of 6.29% and a return on equity of 7.99%.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 5.2%. Safety Insurance Group's payout ratio is currently 73.62%.

Hedge Funds Weigh In On Safety Insurance Group

Several large investors have recently bought and sold shares of SAFT. CW Advisors LLC acquired a new position in shares of Safety Insurance Group in the 1st quarter valued at $7,230,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Safety Insurance Group by 41.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 217,000 shares of the insurance provider's stock valued at $17,117,000 after buying an additional 64,000 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Safety Insurance Group by 13,144.7% in the 1st quarter. GAMMA Investing LLC now owns 63,972 shares of the insurance provider's stock valued at $5,046,000 after buying an additional 63,489 shares in the last quarter. Millennium Management LLC raised its stake in shares of Safety Insurance Group by 284.9% in the 1st quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider's stock valued at $6,765,000 after buying an additional 63,480 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Safety Insurance Group in the 4th quarter worth about $4,023,000. 81.04% of the stock is currently owned by institutional investors and hedge funds.

About Safety Insurance Group

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.