Safety Insurance Group, Inc. (NASDAQ:SAFT) Brief Rate Update

Safety Insurance Group, Inc. (NASDAQ:SAFT – Get Rating) saw a sharp surge in short interest in November. As of November 30, there was short interest totaling 179,500 shares, up 25.3% from November 15 of a total of 143,200 shares. Based on an average trading volume of 52,000 shares, the short interest ratio is currently 3.5 days. Currently, 1.3% of the company’s shares are short.

Institutional trading of security insurance group

Hedge funds and other institutional investors have recently bought and sold shares in the company. Bank of New York Mellon Corp increased its position in shares of Safety Insurance Group by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 1,857,262 shares of the insurance provider worth $151,478,000 after buying an additional 7,039 shares last quarter. Robeco Institutional Asset Management BV increased its position in shares of Safety Insurance Group by 3.9% in the third quarter. Robeco Institutional Asset Management BV now owns 286,261 shares in the insurance provider, valued at $23,350,000, after buying a further 10,744 shares last quarter. The State of Kentucky’s Teachers Retirement System acquired a new position in Safety Insurance Group stock valued at approximately $362,000 during the third quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Safety Insurance Group by 1.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 117,853 shares of the insurance provider, valued at $9,612,000, after purchasing an additional 2,091 shares last quarter. Finally, Captrust Financial Advisors increased its position in Safety Insurance Group shares by 5.5% during the third quarter. Captrust Financial Advisors now owns 2,606 shares of the insurance provider, valued at $213,000, after purchasing an additional 136 shares last quarter. Institutional investors and hedge funds own 93.52% of the company’s shares.

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Safety Insurance Group stock performance

Shares of SAFT stock fell $1.27 midday Wednesday to hit $84.12. 51,783 shares of the Company were exchanged compared to an average volume of 65,606. The company has a market cap of $1.24 billion, a P/E of 23.89 and a beta of 0.28. The company has a debt to equity ratio of 0.04, a quick ratio of 0.36 and a current ratio of 0.36. The company’s 50-day moving average price is $85.13 and its 200-day moving average price is $88.74. Safety Insurance Group has a 52-week low of $76.78 and a 52-week high of $99.75.

Safety Insurance Group (NASDAQ:SAFT – Get Rating) last announced earnings results on Wednesday, November 2nd. The insurance provider reported $1.13 EPS for the quarter. The company had revenue of $192.35 million for the quarter. Safety Insurance Group had a net margin of 6.77% and a return on equity of 9.79%.

Safety Insurance Group announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1 will receive a dividend of $0.90. That equates to an annualized dividend of $3.60 and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday November 30th. Safety Insurance Group’s dividend payout ratio (DPR) is 99.45%.

Wall Street analyst ponders

Separately, StockNews.com began coverage of Safety Insurance Group shares in a research report on Wednesday, October 12th. They gave the company a “hold” rating.

Company profile of the Safety Insurance Group

(received rating)

Safety Insurance Group, Inc provides insurance for personal automobiles, commercial vehicles, and homeowners throughout the United States. The Company’s personal automobile policies provide coverage for personal injury and property damage to others, personal injury to the insured’s/insured’s occupants of the vehicle through no fault of their own and property damage to an insured’s own vehicle in the event of a collision or other hazards.

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