StockNews.com Begins Coverage on Safety Insurance Group (NASDAQ:SAFT)

StockNews.com started coverage on shares of Safety Insurance Group (NASDAQ:SAFT – Get Rating) in a report released on Thursday morning. The brokerage issued a hold rating on the insurance provider’s stock.

Safety Insurance Group Stock Performance

NASDAQ SAFT opened at $72.54 on Thursday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 23.03 and a beta of 0.30. The company has a 50 day moving average of $82.99 and a 200-day moving average of $84.50. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.04. Safety Insurance Group has a 1-year low of $71.33 and a 1-year high of $99.75.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Tuesday, February 28th. Safety Insurance Group’s payout ratio is 114.29%.

Insider Transactions at Safety Insurance Group

In other news, VP James Berry sold 438 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were 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 owns 28,437 shares of the company’s stock, valued at $2,274,960. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 1,405 shares of company stock valued at $112,749. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Safety Insurance Group

Several hedge funds have recently modified their holdings of SAFT. Victory Capital Management Inc. grew its stake in shares of Safety Insurance Group by 28.7% during the third quarter. Victory Capital Management Inc. now owns 824,037 shares of the insurance provider’s stock valued at $67,208,000 after purchasing an additional 183,909 shares during the last quarter. State Street Corp grew its stake in shares of Safety Insurance Group by 32.6% during the first quarter. State Street Corp now owns 705,940 shares of the insurance provider’s stock valued at $64,135,000 after purchasing an additional 173,482 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Safety Insurance Group by 39.1% during the fourth quarter. JPMorgan Chase & Co. now owns 201,262 shares of the insurance provider’s stock valued at $16,959,000 after purchasing an additional 56,572 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Safety Insurance Group by 3.2% during the third quarter. Vanguard Group Inc. now owns 1,620,184 shares of the insurance provider’s stock valued at $132,143,000 after purchasing an additional 49,842 shares during the last quarter. Finally, Northstar Asset Management Inc. bought a new stake in shares of Safety Insurance Group during the fourth quarter valued at approximately $3,811,000. 91.79% of the stock is owned by 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.