Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 34,272 Shares

Key Points

• Major shareholder Corp Srb sold 34,272 shares of Safety Insurance Group on July 13 at an average price of $76.04, totaling about $2.61 million. After the sale, the insider still owned 1.76 million shares, and the stake fell by 1.91%.
• The stock was down 1.5% and opened at $74.82, while trading near its 50-day and 200-day moving averages. Safety Insurance Group has a market cap of about $1.1 billion and a low beta of 0.21.
• The company recently missed earnings expectations, posting EPS of -$0.72 versus estimates for $1.45, though revenue was roughly in line with forecasts. It also pays a quarterly dividend of $0.92 per share, equal to a 4.9% annualized yield.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) major shareholder Corp Srb sold 34,272 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $76.04, for a total value of $2,606,042.88. Following the completion of the transaction, the insider owned 1,757,733 shares of the company's stock, valued at $133,658,017.32. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Corp Srb also recently made the following trade(s):

• On Thursday, July 9th, Corp Srb sold 2,650 shares of Safety Insurance Group stock. The stock was sold at an average price of $76.51, for a total transaction of $202,751.50.

Safety Insurance Group Trading Down 1.5%

Shares of NASDAQ SAFT opened at $74.82 on Wednesday. The firm has a 50 day moving average price of $72.57 and a two-hundred day moving average price of $74.78. The stock has a market cap of $1.10 billion, a P/E ratio of 17.69 and a beta of 0.21. Safety Insurance Group, Inc. has a 52-week low of $67.04 and a 52-week high of $81.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share for the quarter, missing analysts' consensus estimates of $1.45 by ($2.17). The company had revenue of $314.67 million during the quarter, compared to analyst estimates of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. As a group, equities analysts forecast that Safety Insurance Group, Inc. will post 4.75 EPS for the current year.

Safety Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, June 1st. Safety Insurance Group's dividend payout ratio is currently 87.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. XTX Topco Ltd raised its position in Safety Insurance Group by 2.8% in the 4th quarter. XTX Topco Ltd now owns 4,745 shares of the insurance provider's stock worth $370,000 after purchasing an additional 127 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Safety Insurance Group by 0.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,753 shares of the insurance provider's stock valued at $1,851,000 after acquiring an additional 152 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Safety Insurance Group by 62.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider's stock worth $32,000 after acquiring an additional 160 shares during the last quarter. Allworth Financial LP increased its stake in Safety Insurance Group by 74.8% in the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider's stock worth $30,000 after purchasing an additional 166 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in Safety Insurance Group by 1.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 14,018 shares of the insurance provider's stock valued at $1,112,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 81.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SAFT. Zacks Research raised shares of Safety Insurance Group to a "hold" rating in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Safety Insurance Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Safety Insurance Group in a report on Friday, May 29th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.

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