Safety Insurance Group (NASDAQ:SAFT) Sets New 1-Year High After Dividend Announcement

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $90.00 and last traded at $89.38, with a volume of 5510 shares changing hands. The stock had previously closed at $79.77.

The newly announced dividend which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.08%. Safety Insurance Group's dividend payout ratio is currently 104.35%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Safety Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, September 5th.

Safety Insurance Group Price Performance

The firm has a market cap of $1.31 billion, a PE ratio of 23.12 and a beta of 0.17. The stock has a 50-day moving average price of $81.98 and a 200 day moving average price of $80.48.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.12). The business had revenue of $269.78 million during the quarter. Safety Insurance Group had a net margin of 4.96% and a return on equity of 5.53%.

Insider Activity at Safety Insurance Group

In other news, VP Glenn Hiltpold sold 389 shares of the company's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.41, for a total transaction of $32,835.49. Following the completion of the sale, the vice president now directly owns 11,204 shares in the company, valued at $945,729.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders sold 915 shares of company stock worth $75,125. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Safety Insurance Group

Several institutional investors have recently bought and sold shares of the business. TimesSquare Capital Management LLC increased its holdings in Safety Insurance Group by 12.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 512,888 shares of the insurance provider's stock valued at $41,944,000 after purchasing an additional 57,320 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Safety Insurance Group during the 3rd quarter valued at about $202,000. International Assets Investment Management LLC lifted its position in Safety Insurance Group by 8,078.0% during the 3rd quarter. International Assets Investment Management LLC now owns 16,356 shares of the insurance provider's stock worth $1,338,000 after acquiring an additional 16,156 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Safety Insurance Group in the 3rd quarter worth approximately $267,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its position in Safety Insurance Group by 17.4% in the third quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 13,500 shares of the insurance provider's stock valued at $1,104,000 after acquiring an additional 2,000 shares in the last quarter. 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.