Safety Insurance Group, Inc. (NASDAQ:SAFT – Get Rating) was the target of a significant drop in short rates in February. As of February 15th, there was short interest totaling 150,600 shares, down 17.7% from the January 31st total of 183,100 shares. Based on an average daily trading volume of 70,700 shares, the short interest rate ratio is currently 2.1 days. Approximately 1.1% of the company’s stock is sold short.
Insiders place their bets
In other Safety Insurance Group news, VP James Berry sold 438 shares of Safety Insurance Group stock in a transaction on Wednesday, March 1st. The shares sold at an average price of $80.00 for a total value of $35,040.00. Upon closing of the transaction, the Vice President now directly owns 28,437 shares of the Company, valued at $2,274,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the past ninety days, insiders sold 1,405 shares of the company’s shares, valued at $112,749. Insiders own 4.20% of the company’s shares.
Hedge funds agree with the Safety Insurance Group
A number of institutional investors and hedge funds have recently changed their holdings of SAFT. Point72 Hong Kong Ltd acquired a new position in Safety Insurance Group stock valued at $30,000 during the third quarter. Money Concepts Capital Corp acquired a new position in Safety Insurance Group stock valued at $48,000 during the fourth quarter. US Asset Management LLC acquired a new position in Safety Insurance Group stock valued at $102,000 during the fourth quarter. Zürcher Kantonalbank Zürcher Kantonalbank increased its stake in the Safety Insurance Group by 31.0% in the third quarter. Zurich Cantonal Bank Zurich Cantonal Bank now owns 2,233 shares of the insurance provider, valued at $182,000, after buying another 528 shares last quarter. Finally, Sei Investments Co. acquired a new position in Safety Insurance Group stock valued at $202,000 during the fourth quarter. 91.79% of the shares are currently owned by hedge funds and other institutional investors.
Safety Insurance Group Trading down 0.6%
NASDAQ:SAFT opened at $80.51 on Friday. The company has a 50-day simple moving average of $85.10 and a 200-day simple moving average of $85.89. The company has a market cap of $1.19 billion, a P/E of 25.56 and a beta of 0.30. The company has a current ratio of 0.34, a quick ratio of 0.36 and a debt to equity ratio of 0.04. Safety Insurance Group has a 12-month low of $76.78 and a 12-month high of $99.75.
Announcement of the Safety Insurance Group dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1 will receive a dividend of $0.90. The ex-dividend date is Tuesday February 28th. That equates to a dividend of $3.60 on an annualized basis and a dividend yield of 4.47%. Safety Insurance Group’s Dividend Payout Ratio (DPR) is currently 114.29%.
About Safety Insurance Group (receive rating)
Safety Insurance Group, Inc is engaged in the administration and delivery of insurance services. It offers property and casualty insurance products covering commercial vehicles and fleets. The Company offers personal automobile, commercial automobile and home insurance. The company was founded in 1979 and is headquartered in Boston, MA.
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