Short Interest in Safety Insurance Group, Inc. (NASDAQ:SAFT) Grows By 32.5%

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 99,900 shares, a growth of 32.5% from the February 28th total of 75,400 shares. Based on an average daily volume of 58,100 shares, the short-interest ratio is currently 1.7 days. Approximately 0.7% of the company's shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SAFT. Signaturefd LLC boosted its stake in shares of Safety Insurance Group by 94.9% during the 4th quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Safety Insurance Group in the fourth quarter worth about $34,000. Sterling Capital Management LLC boosted its position in Safety Insurance Group by 823.5% during the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 420 shares in the last quarter. KBC Group NV boosted its position in shares of Safety Insurance Group by 52.2% during the fourth quarter. KBC Group NV now owns 1,000 shares of the insurance provider's stock valued at $82,000 after purchasing an additional 343 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Safety Insurance Group in the fourth quarter worth $181,000. 81.04% of the stock is currently owned by institutional investors.

Safety Insurance Group Stock Down 3.9 %

Shares of Safety Insurance Group stock traded down $3.13 during trading on Friday, reaching $76.24. 72,418 shares of the stock were exchanged, compared to its average volume of 53,063. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 15.10 and a beta of 0.13. Safety Insurance Group has a 1 year low of $73.38 and a 1 year high of $90.00. The stock's fifty day moving average is $77.90 and its 200 day moving average is $80.73.

Remove Ads

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

Safety Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Monday, March 3rd. Safety Insurance Group's dividend payout ratio (DPR) is currently 75.47%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a report on Thursday, February 27th.

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.