Safety Insurance Group, Inc. (NASDAQ:SAFT) to Issue Quarterly Dividend of $0.90

Safety Insurance Group, Inc. (NASDAQ:SAFTGet Rating) announced a quarterly dividend on Wednesday, August 3rd, Zacks reports. Stockholders of record on Thursday, September 1st will be paid a dividend of 0.90 per share by the insurance provider on Thursday, September 15th. This represents a $3.60 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Wednesday, August 31st.

Safety Insurance Group has a dividend payout ratio of 76.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Safety Insurance Group Stock Up 3.0 %

Shares of SAFT traded up $2.56 during trading hours on Friday, hitting $87.97. The stock had a trading volume of 1,401 shares, compared to its average volume of 74,662. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50 day simple moving average of $92.46 and a 200-day simple moving average of $88.75. The firm has a market capitalization of $1.30 billion, a P/E ratio of 18.24 and a beta of 0.22. Safety Insurance Group has a 1-year low of $76.50 and a 1-year high of $99.75.

Safety Insurance Group (NASDAQ:SAFTGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $0.99 earnings per share for the quarter. Safety Insurance Group had a net margin of 8.87% and a return on equity of 10.17%. The business had revenue of $195.00 million for the quarter.

Analysts Set New Price Targets

Separately, TheStreet cut shares of Safety Insurance Group from a “b” rating to a “c+” rating in a research report on Friday, July 22nd.

Insider Buying and Selling

In related news, Director Peter J. Manning sold 2,000 shares of Safety Insurance Group stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $90.93, for a total value of $181,860.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $454,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. PDT Partners LLC grew its position in shares of Safety Insurance Group by 4.0% during the 1st quarter. PDT Partners LLC now owns 7,413 shares of the insurance provider’s stock valued at $673,000 after purchasing an additional 288 shares in the last quarter. Citigroup Inc. grew its position in Safety Insurance Group by 2.5% in the first quarter. Citigroup Inc. now owns 13,868 shares of the insurance provider’s stock worth $1,260,000 after acquiring an additional 333 shares in the last quarter. Captrust Financial Advisors grew its position in Safety Insurance Group by 20.2% in the first quarter. Captrust Financial Advisors now owns 2,431 shares of the insurance provider’s stock worth $221,000 after acquiring an additional 409 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Safety Insurance Group by 5.7% in the first quarter. Great West Life Assurance Co. Can now owns 13,267 shares of the insurance provider’s stock worth $1,234,000 after acquiring an additional 713 shares in the last quarter. Finally, Eaton Vance Management grew its position in Safety Insurance Group by 30.0% in the first quarter. Eaton Vance Management now owns 4,021 shares of the insurance provider’s stock worth $365,000 after acquiring an additional 927 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

About Safety Insurance Group

(Get Rating)

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.

Further Reading

Dividend History for Safety Insurance Group (NASDAQ:SAFT)

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