Safety Insurance Group, Inc. (NASDAQ:SAFT) Sees Large Increase in Short Interest

Safety Insurance Group, Inc. (NASDAQ:SAFT) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 126,900 shares, an increase of 20.9% from the November 15th total of 105,000 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 51,000 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Safety Insurance Group Stock Performance

NASDAQ SAFT traded up $0.19 during mid-day trading on Friday, reaching $83.71. 27,364 shares of the stock were exchanged, compared to its average volume of 67,694. The company has a market capitalization of $1.24 billion, a P/E ratio of 16.58 and a beta of 0.19. The business’s 50 day moving average is $83.18 and its 200-day moving average is $81.53. Safety Insurance Group has a 1 year low of $71.99 and a 1 year high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.30). Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The firm had revenue of $295.28 million during the quarter.

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a dividend of $0.90 per share. The ex-dividend date was Monday, December 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 4.30%. Safety Insurance Group’s dividend payout ratio is currently 71.29%.

Institutional Trading of Safety Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. purchased a new position in shares of Safety Insurance Group during the 3rd quarter valued at approximately $202,000. Dynamic Technology Lab Private Ltd purchased a new position in Safety Insurance Group during the third quarter valued at $213,000. Everence Capital Management Inc. purchased a new position in Safety Insurance Group during the third quarter valued at $267,000. XTX Topco Ltd acquired a new stake in shares of Safety Insurance Group in the third quarter valued at about $283,000. Finally, Creative Planning purchased a new stake in shares of Safety Insurance Group during the third quarter worth about $299,000. 81.04% of the stock is currently owned by hedge funds and other 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.