Short Interest in Safety Insurance Group, Inc. (NASDAQ:SAFT) Increases By 36.1%

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 107,100 shares, an increase of 36.1% from the September 30th total of 78,700 shares. Approximately 0.7% of the company's stock are short sold. Based on an average daily trading volume, of 82,800 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 82,800 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.7% of the company's stock are short sold.

Insider Transactions at Safety Insurance Group

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In other Safety Insurance Group news, Director Dennis J. Langwell purchased 2,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were acquired at an average price of $72.39 per share, for a total transaction of $144,780.00. Following the completion of the purchase, the director owned 8,000 shares of the company's stock, valued at approximately $579,120. The trade was a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 4,055 shares of company stock valued at $291,705 in the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Trading of Safety Insurance Group

A number of institutional investors have recently modified their holdings of SAFT. Amalgamated Bank grew its position in shares of Safety Insurance Group by 3.5% during the third quarter. Amalgamated Bank now owns 4,377 shares of the insurance provider's stock worth $309,000 after buying an additional 150 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Safety Insurance Group by 1.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 14,018 shares of the insurance provider's stock valued at $1,112,000 after acquiring an additional 169 shares in the last quarter. Naples Global Advisors LLC raised its holdings in Safety Insurance Group by 0.9% in the second quarter. Naples Global Advisors LLC now owns 19,448 shares of the insurance provider's stock valued at $1,544,000 after acquiring an additional 175 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in Safety Insurance Group by 1.8% in the second quarter. DAVENPORT & Co LLC now owns 11,475 shares of the insurance provider's stock valued at $910,000 after acquiring an additional 200 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Safety Insurance Group by 2.0% in the second quarter. Exchange Traded Concepts LLC now owns 10,648 shares of the insurance provider's stock valued at $845,000 after acquiring an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 81.04% of the company's stock.

Safety Insurance Group Price Performance

Shares of NASDAQ:SAFT traded down $0.50 during midday trading on Monday, hitting $68.23. 93,134 shares of the stock were exchanged, compared to its average volume of 69,575. The stock has a market cap of $1.02 billion, a P/E ratio of 11.95 and a beta of 0.26. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03. Safety Insurance Group has a twelve month low of $67.04 and a twelve month high of $90.00. The company has a 50 day moving average price of $71.16 and a 200-day moving average price of $74.69.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its earnings results on Monday, November 3rd. The insurance provider reported $1.48 earnings per share for the quarter. Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%.

Safety Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.4%. This is an increase from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's dividend payout ratio is currently 64.45%.

Analyst Ratings Changes

Several equities analysts have weighed in on SAFT shares. Wall Street Zen downgraded Safety Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Safety Insurance Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold".

Get Our Latest Research Report on SAFT

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.

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