Safety Insurance Group (NASDAQ:SAFT) Reaches New 12-Month Low at $72.57

Safety Insurance Group, Inc. (NASDAQ:SAFT – Get Rating)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $72.57 and last traded at $72.98, with a volume of 11230 shares traded. The stock had previously closed at $74.63.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Safety Insurance Group in a research report on Thursday. They set a “hold” rating for the company.

Safety Insurance Group Price Performance

The firm has a market cap of $1.12 billion, a PE ratio of 24.06 and a beta of 0.30. The firm has a fifty day simple moving average of $83.27 and a two-hundred day simple moving average of $84.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.34 and a current ratio of 0.34.

Safety Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date was Tuesday, February 28th. Safety Insurance Group’s dividend payout ratio is currently 114.29%.

Insider Buying and Selling

In other Safety Insurance Group news, VP James Berry sold 438 shares of Safety Insurance Group stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $80.00, for a total transaction of $35,040.00. Following the completion of the sale, the vice president now directly owns 28,437 shares of the company’s stock, valued at approximately $2,274,960. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 1,405 shares of company stock valued at $112,749. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of Safety Insurance Group by 1.2% in the 3rd quarter. BlackRock Inc. now owns 2,155,884 shares of the insurance provider’s stock valued at $175,834,000 after acquiring an additional 24,611 shares during the period. Bank of New York Mellon Corp lifted its position in Safety Insurance Group by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,857,262 shares of the insurance provider’s stock worth $151,478,000 after acquiring an additional 7,039 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Safety Insurance Group by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,620,184 shares of the insurance provider’s stock valued at $132,143,000 after buying an additional 49,842 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Safety Insurance Group by 4.8% in the 4th quarter. Victory Capital Management Inc. now owns 863,737 shares of the insurance provider’s stock valued at $72,778,000 after buying an additional 39,700 shares during the period. Finally, State Street Corp raised its holdings in Safety Insurance Group by 1.6% in the 3rd quarter. State Street Corp now owns 763,881 shares of the insurance provider’s stock worth $62,302,000 after purchasing an additional 11,874 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Safety Insurance Group Company Profile

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Safety Insurance Group, Inc engages in the management and provision of insurance services. It offers property and casualty insurance products which include commercial vehicles and fleets. The firm provides private passenger automobile, commercial automobile and homeowners insurance. The company was founded in 1979 and is headquartered in Boston, MA.