Safety Insurance Group (NASDAQ:SAFT) Reaches New 52-Week Low - Here's Why

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report)'s stock price reached 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 downgraded Safety Insurance Group from a "buy" rating to a "hold" rating in a report on Thursday, February 27th.

Safety Insurance Group Trading Up 1.8 %

The firm's 50 day moving average price is $76.96 and its two-hundred day moving average price is $79.91. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.36 and a beta of 0.19.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share 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 given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.60 dividend on an annualized basis and a yield of 4.64%. Safety Insurance Group's dividend payout ratio (DPR) is 75.47%.

Hedge Funds Weigh In On Safety Insurance Group

Large investors have recently modified their holdings of the stock. TimesSquare Capital Management LLC grew its stake in Safety Insurance Group by 17.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 602,449 shares of the insurance provider's stock valued at $49,642,000 after buying an additional 89,561 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Safety Insurance Group by 46.4% in the fourth quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider's stock valued at $18,125,000 after purchasing an additional 69,750 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Safety Insurance Group by 13,144.7% during the first quarter. GAMMA Investing LLC now owns 63,972 shares of the insurance provider's stock worth $5,046,000 after purchasing an additional 63,489 shares during the period. Norges Bank acquired a new stake in Safety Insurance Group during the 4th quarter worth approximately $4,023,000. Finally, JPMorgan Chase & Co. boosted its stake in Safety Insurance Group by 21.4% in the 4th quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider's stock valued at $17,498,000 after purchasing an additional 37,495 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.