Safety Insurance Group, Inc. (NASDAQ:SAFT) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 179,900 shares, a decline of 15.4% from the September 30th total of 212,600 shares. Based on an average daily volume of 49,700 shares, the days-to-cover ratio is currently 3.6 days. Currently, 1.2% of the shares of the stock are short sold.
SAFT traded up $0.04 during trading on Friday, reaching $97.66. 63,500 shares of the company’s stock were exchanged, compared to its average volume of 41,596. Safety Insurance Group has a one year low of $77.58 and a one year high of $103.96. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.52 billion, a PE ratio of 17.52 and a beta of 0.54. The firm has a fifty day moving average price of $99.36 and a two-hundred day moving average price of $96.71.
Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. Safety Insurance Group had a net margin of 10.49% and a return on equity of 11.37%. The company had revenue of $215.27 million for the quarter.
Several brokerages recently issued reports on SAFT. ValuEngine lowered shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub lowered shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a report on Friday, August 9th.
Several institutional investors have recently added to or reduced their stakes in SAFT. Morgan Stanley lifted its position in shares of Safety Insurance Group by 621.8% during the 2nd quarter. Morgan Stanley now owns 174,962 shares of the insurance provider’s stock valued at $16,644,000 after acquiring an additional 150,722 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Safety Insurance Group during the 2nd quarter valued at $5,529,000. BlackRock Inc. lifted its position in shares of Safety Insurance Group by 1.3% during the 2nd quarter. BlackRock Inc. now owns 2,166,442 shares of the insurance provider’s stock valued at $206,094,000 after acquiring an additional 27,786 shares during the period. California Public Employees Retirement System lifted its position in shares of Safety Insurance Group by 225.3% during the 3rd quarter. California Public Employees Retirement System now owns 33,332 shares of the insurance provider’s stock valued at $3,378,000 after acquiring an additional 23,085 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Safety Insurance Group during the 2nd quarter valued at $2,150,000. Institutional investors own 80.19% of the company’s stock.
Safety Insurance Group Company Profile
Safety Insurance Group, Inc provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, 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.
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