Safety Insurance Group (NASDAQ:SAFT) Hits New 1-Year Low – Here’s Why

Safety Insurance Group, Inc. (NASDAQ:SAFT) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $70.71 and last traded at $72.20, with a volume of 9436 shares trading hands. The stock had previously closed at $76.24.

Wall Street Analysts Forecast Growth

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

Safety Insurance Group Stock Down 3.8 %

The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 14.58 and a beta of 0.19. The stock has a 50 day simple moving average of $77.87 and a 200 day simple moving average of $80.66.

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

Safety Insurance Group Dividend Announcement

The business also recently disclosed 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 4.91%. The ex-dividend date of this dividend was Monday, March 3rd. Safety Insurance Group’s payout ratio is currently 75.47%.

Institutional Investors Weigh In On Safety Insurance Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in shares of Safety Insurance Group by 94.9% during the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 150 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Safety Insurance Group during the 4th quarter worth approximately $34,000. Sterling Capital Management LLC raised its stake 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 purchasing an additional 420 shares during the period. KBC Group NV lifted its holdings in shares of Safety Insurance Group by 52.2% in 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 acquired a new stake in shares of Safety Insurance Group in the fourth quarter worth $181,000. Institutional investors own 81.04% of the company’s stock.

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.