Safety Insurance Group (NASDAQ:SAFT) Stock Price Up 3.3% - Here's Why

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) shares rose 3.3% during mid-day trading on Tuesday . The company traded as high as $76.26 and last traded at $75.46. Approximately 41,642 shares traded hands during trading, a decline of 22% from the average daily volume of 53,318 shares. The stock had previously closed at $73.02.

Analyst Upgrades and Downgrades

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

Safety Insurance Group Trading Down 0.9 %

The company's 50 day moving average is $77.36 and its 200 day moving average is $80.35. The company has a market cap of $1.12 billion, a PE ratio of 14.91 and a beta of 0.19.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The insurance provider reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). The company 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%.

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Safety Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Monday, March 3rd. Safety Insurance Group's payout ratio is 75.47%.

Institutional Trading of Safety Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in SAFT. Signaturefd LLC grew its holdings in Safety Insurance Group by 94.9% during the 4th quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Naples Global Advisors LLC boosted its stake in shares of Safety Insurance Group by 1.3% during the fourth quarter. Naples Global Advisors LLC now owns 17,373 shares of the insurance provider's stock valued at $1,432,000 after purchasing an additional 225 shares in the last quarter. Anchor Capital Advisors LLC increased its holdings in Safety Insurance Group by 1.6% during the fourth quarter. Anchor Capital Advisors LLC now owns 16,890 shares of the insurance provider's stock valued at $1,392,000 after buying an additional 268 shares during the period. Parallel Advisors LLC increased its holdings in Safety Insurance Group by 169.9% during the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock valued at $35,000 after buying an additional 282 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in Safety Insurance Group by 2.3% during the fourth quarter. WINTON GROUP Ltd now owns 13,224 shares of the insurance provider's stock worth $1,090,000 after buying an additional 293 shares during the period. 81.04% of the stock is currently owned by institutional investors.

About Safety Insurance Group

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.