Safety Insurance Group (NASDAQ:SAFT) Hits New 1-Year High Following Dividend Announcement

Safety Insurance Group, Inc. (NASDAQ:SAFT) reached a new 52-week high during trading on Wednesday after the company announced a dividend. The company traded as high as $90.00 and last traded at $89.38, with a volume of 5510 shares. The stock had previously closed at $79.77.

The newly announced dividend which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.03%. Safety Insurance Group’s payout ratio is 104.35%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Safety Insurance Group Stock Up 12.0 %

The business’s fifty day moving average is $81.98 and its two-hundred day moving average is $80.48. The stock has a market capitalization of $1.33 billion, a PE ratio of 23.12 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, August 7th. The insurance provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.12). Safety Insurance Group had a net margin of 4.96% and a return on equity of 5.53%. The business had revenue of $269.78 million during the quarter.

Insider Activity at Safety Insurance Group

In related news, VP Glenn Hiltpold sold 389 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.41, for a total value of $32,835.49. Following the completion of the sale, the vice president now directly owns 11,204 shares in the company, valued at $945,729.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 915 shares of company stock valued at $75,125. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Safety Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. TimesSquare Capital Management LLC raised its holdings in shares of Safety Insurance Group by 12.6% in the third quarter. TimesSquare Capital Management LLC now owns 512,888 shares of the insurance provider’s stock valued at $41,944,000 after acquiring an additional 57,320 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Safety Insurance Group in the third quarter valued at about $202,000. International Assets Investment Management LLC grew its stake in Safety Insurance Group by 8,078.0% in the third quarter. International Assets Investment Management LLC now owns 16,356 shares of the insurance provider’s stock valued at $1,338,000 after purchasing an additional 16,156 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Safety Insurance Group in the third quarter valued at about $267,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its stake in Safety Insurance Group by 17.4% in the third quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 13,500 shares of the insurance provider’s stock valued at $1,104,000 after purchasing an additional 2,000 shares during the last quarter. 81.04% of the stock is currently 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.