Safety Insurance Group (NASDAQ:SAFT) Sets New 52-Week Low - What's Next?

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) shares hit a new 52-week low on Thursday . The stock traded as low as $70.51 and last traded at $70.90, with a volume of 10294 shares. The stock had previously closed at $71.80.

Analyst Ratings Changes

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

Safety Insurance Group Price Performance

The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 14.32 and a beta of 0.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.42 and a quick ratio of 0.42. The company's 50-day moving average is $77.77 and its 200-day moving average is $77.79.

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

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a dividend of $0.90 per share. The ex-dividend date was Monday, June 2nd. This represents a $3.60 annualized dividend and a dividend yield of 5.14%. Safety Insurance Group's dividend payout ratio is currently 73.62%.

Hedge Funds Weigh In On Safety Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its position in 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 purchasing an additional 319 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Safety Insurance Group in the 4th quarter valued at approximately $34,000. Parallel Advisors LLC lifted its position in shares of Safety Insurance Group by 169.9% in the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock worth $35,000 after acquiring an additional 282 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Safety Insurance Group by 823.5% during the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock worth $39,000 after purchasing an additional 420 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Safety Insurance Group by 67.9% during the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock valued at $64,000 after purchasing an additional 328 shares during the period. 81.04% of the stock is owned by 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.