Safety Insurance Group (NASDAQ:SAFT) Stock Price Passes Above 200-Day Moving Average – What’s Next?

by · The Cerbat Gem

Safety Insurance Group, Inc. (NASDAQ:SAFT – Get Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $74.45 and traded as high as $77.09. Safety Insurance Group shares last traded at $76.55, with a volume of 117,144 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a report on Wednesday, October 8th. Wall Street Zen cut shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Check Out Our Latest Analysis on SAFT

Safety Insurance Group Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.42 and a current ratio of 0.42. The stock’s fifty day moving average price is $71.97 and its 200-day moving average price is $74.49. The firm has a market cap of $1.15 billion, a PE ratio of 13.49 and a beta of 0.26.

Safety Insurance Group (NASDAQ:SAFT – Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The insurance provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.32). Safety Insurance Group had a return on equity of 8.34% and a net margin of 7.07%.The company had revenue of $323.21 million for the quarter.

Safety Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.92 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.8%. Safety Insurance Group’s dividend payout ratio is currently 62.48%.

Insider Transactions at Safety Insurance Group

In other news, Director Dennis J. Langwell acquired 2,000 shares of Safety Insurance Group stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost of $72.39 per share, with a total value of $144,780.00. Following the completion of the acquisition, the director owned 8,000 shares in the company, valued at $579,120. This trade represents a 33.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen LLC purchased a new position in Safety Insurance Group in the 1st quarter valued at about $2,931,000. Panagora Asset Management Inc. acquired a new position in shares of Safety Insurance Group in the first quarter valued at approximately $1,544,000. Ballentine Partners LLC acquired a new position in shares of Safety Insurance Group in the second quarter valued at approximately $306,000. Exchange Traded Concepts LLC lifted its stake in shares of Safety Insurance Group by 2.0% during the second quarter. Exchange Traded Concepts LLC now owns 10,648 shares of the insurance provider’s stock valued at $845,000 after buying an additional 204 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in Safety Insurance Group during the first quarter worth approximately $500,000. Institutional investors and hedge funds own 81.04% of the company’s stock.

About Safety Insurance Group

(Get Free Report)

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.

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