Safety Insurance Group (NASDAQ:SAFT) Stock Price Up 3.3% – What’s Next?

Safety Insurance Group, Inc. (NASDAQ:SAFT)’s share price rose 3.3% during trading on Tuesday . The company traded as high as $76.26 and last traded at $75.46. Approximately 41,642 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 53,318 shares. The stock had previously closed at $73.02.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th.

Safety Insurance Group Stock Performance

The firm has a 50 day simple moving average of $77.74 and a two-hundred day simple moving average of $80.59. The firm has a market capitalization of $1.12 billion, a P/E ratio of 14.90 and a beta of 0.19.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.23). The company had revenue of $286.72 million during the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Monday, March 3rd. Safety Insurance Group’s payout ratio is currently 75.47%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of Safety Insurance Group by 94.9% in the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 150 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Safety Insurance Group during the fourth quarter worth about $34,000. Parallel Advisors LLC raised its holdings in Safety Insurance Group by 169.9% in the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 282 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Safety Insurance Group by 823.5% during the fourth quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 420 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Safety Insurance Group by 52.2% in the 4th quarter. KBC Group NV now owns 1,000 shares of the insurance provider’s stock worth $82,000 after buying an additional 343 shares during the period. 81.04% of the stock is currently owned by hedge funds and other 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.