Safety Insurance Group (NASDAQ:SAFT) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Safety Insurance Group (NASDAQ:SAFT) crossed above its 200‑day moving average of $75.10, trading as high as $77.27 and last at $76.15 on volume of 87,561 shares.
• The company beat quarterly estimates with EPS of $1.51 (vs. $1.28) on $319.34M revenue and recently paid a quarterly dividend of $0.92 (annualized $3.68), representing a 4.8% yield.
• Analyst coverage is mixed (consensus "Hold" though Wall Street Zen upgraded to "Buy"), while insiders have trimmed holdings recently (Corp Srb sold 14,151 shares for about $1.01M) and institutional investors own roughly 81% of the stock.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $75.10 and traded as high as $77.27. Safety Insurance Group shares last traded at $76.15, with a volume of 87,561 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SAFT. Wall Street Zen raised shares of Safety Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Safety Insurance Group in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Safety Insurance Group Stock Down 0.7%

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.12 billion, a PE ratio of 11.37 and a beta of 0.22. The business's 50 day simple moving average is $75.25 and its 200 day simple moving average is $75.10.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its earnings results on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.23. The company had revenue of $319.34 million for the quarter. Safety Insurance Group had a return on equity of 9.64% and a net margin of 7.85%.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were issued a $0.92 dividend. The ex-dividend date was Monday, March 2nd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.8%. Safety Insurance Group's dividend payout ratio is currently 54.93%.

Insider Buying and Selling

In related news, major shareholder Corp Srb sold 14,151 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $71.12, for a total value of $1,006,419.12. Following the transaction, the insider owned 1,794,655 shares in the company, valued at approximately $127,635,863.60. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 36,304 shares of company stock valued at $2,728,283 in the last 90 days. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Safety Insurance Group

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in Safety Insurance Group by 74.8% in the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider's stock worth $30,000 after buying an additional 166 shares during the last quarter. Bayban bought a new stake in Safety Insurance Group during the fourth quarter worth approximately $31,000. PNC Financial Services Group Inc. boosted its position in Safety Insurance Group by 62.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider's stock worth $32,000 after purchasing an additional 160 shares during the period. Blue Trust Inc. bought a new stake in Safety Insurance Group during the third quarter worth approximately $35,000. Finally, Capital Advisors Ltd. LLC boosted its position in Safety Insurance Group by 419.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider's stock worth $38,000 after purchasing an additional 394 shares during the period. Institutional investors and hedge funds own 81.04% of the company's stock.

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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