StockNews.com downgraded shares of Safety Insurance Group (NASDAQ:SAFT - Free Report) from a buy rating to a hold rating in a research note published on Thursday morning.
Safety Insurance Group Trading Up 1.6 %
Shares of Safety Insurance Group stock traded up $1.23 during midday trading on Thursday, reaching $76.47. The company had a trading volume of 63,646 shares, compared to its average volume of 47,596. The stock has a fifty day simple moving average of $79.22 and a 200 day simple moving average of $81.82. Safety Insurance Group has a 1-year low of $73.38 and a 1-year high of $90.00. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.14 and a beta of 0.20.
Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.23). The business had revenue of $286.72 million for the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.
Safety Insurance Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.60 annualized dividend and a yield of 4.71%. Safety Insurance Group's dividend payout ratio (DPR) is presently 75.47%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its position in Safety Insurance Group by 94.9% in the 4th quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Safety Insurance Group during the fourth quarter worth about $34,000. Sterling Capital Management LLC increased its holdings in shares of Safety Insurance Group by 823.5% during the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock worth $39,000 after acquiring an additional 420 shares during the last quarter. KBC Group NV raised its stake in Safety Insurance Group by 52.2% in the 4th quarter. KBC Group NV now owns 1,000 shares of the insurance provider's stock valued at $82,000 after acquiring an additional 343 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Safety Insurance Group in the 4th quarter valued at $181,000. 81.04% of the stock is owned by institutional investors and hedge funds.
About Safety Insurance Group
(
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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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