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

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report)'s share price hit a new 52-week low on Wednesday . The stock traded as low as $75.85 and last traded at $76.50, with a volume of 42422 shares. The stock had previously closed at $77.83.

Analysts Set New Price Targets

Separately, StockNews.com lowered Safety Insurance Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th.

Safety Insurance Group Trading Down 0.1 %

The company has a market cap of $1.16 billion, a P/E ratio of 15.37 and a beta of 0.22. The company has a 50-day simple moving average of $77.01 and a 200 day simple moving average of $79.83.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The business had revenue of $286.72 million for the quarter.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Monday, March 3rd. Safety Insurance Group's payout ratio is 75.47%.

Institutional Trading of Safety Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its holdings in Safety Insurance Group by 94.9% in the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Safety Insurance Group in the 4th quarter valued at about $34,000. Parallel Advisors LLC lifted its stake 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 Safety Insurance Group by 823.5% during the fourth quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock worth $39,000 after acquiring an additional 420 shares during the period. Finally, GAMMA Investing LLC increased its stake in Safety Insurance Group by 67.9% in the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock valued at $64,000 after purchasing an additional 328 shares in the last quarter. 81.04% of the stock is 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.