Safety Insurance Group (NASDAQ:SAFT) Hits New 12-Month Low - Here's What Happened

Key Points

• Safety Insurance Group's share price reached a new 52-week low of $68.76 during trading, closing at $70.04.
• Analysts upgraded Safety Insurance Group from a "hold" to a "buy" rating, indicating increased investor confidence.
• The company announced a quarterly dividend of $0.90 per share, yielding 5.1% annually, with a payout ratio of 73.62%.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $68.76 and last traded at $70.04, with a volume of 84254 shares traded. The stock had previously closed at $69.30.

Wall Street Analyst Weigh In

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

Safety Insurance Group Trading Up 1.1%

The company has a fifty day simple moving average of $75.56 and a two-hundred day simple moving average of $77.26. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.06 billion, a PE ratio of 12.47 and a beta of 0.26.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.15). The firm had revenue of $345.83 million during the quarter. Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.42%.

Safety Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Tuesday, September 2nd. This is an increase from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's dividend payout ratio (DPR) is currently 73.62%.

Institutional Investors Weigh In On Safety Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Advisors Ltd. LLC boosted its holdings in Safety Insurance Group by 15,950.0% in 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 shares of Safety Insurance Group in the 4th quarter valued at $34,000. Parallel Advisors LLC grew 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 valued at $35,000 after buying an additional 282 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Safety Insurance Group by 823.5% in the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock valued at $39,000 after buying an additional 420 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Safety Insurance Group by 67.9% during the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock worth $64,000 after acquiring an additional 328 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company's stock.

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.