Short Interest in Safety Insurance Group, Inc. (NASDAQ:SAFT) Increases By 34.5%

Safety Insurance Group, Inc. (NASDAQ:SAFT) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 215,200 shares, a growth of 34.5% from the August 31st total of 160,000 shares. Based on an average daily trading volume, of 59,800 shares, the short-interest ratio is presently 3.6 days. Currently, 1.5% of the shares of the stock are short sold.

Shares of NASDAQ SAFT traded down $1.41 during midday trading on Thursday, reaching $67.68. 63,974 shares of the stock were exchanged, compared to its average volume of 63,252. The stock has a market capitalization of $1.04 billion, a P/E ratio of 12.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.37 and a current ratio of 0.37. The company has a 50 day simple moving average of $72.76 and a 200 day simple moving average of $76.23. Safety Insurance Group has a twelve month low of $65.45 and a twelve month high of $101.74.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Thursday, August 6th. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.35). Safety Insurance Group had a return on equity of 11.49% and a net margin of 10.17%. The business had revenue of $207.77 million for the quarter.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend was Monday, August 31st.

In related news, Director Frederic H. Lindeberg purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average cost of $71.58 per share, for a total transaction of $71,580.00. Following the completion of the transaction, the director now directly owns 19,000 shares of the company’s stock, valued at $1,360,020. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederic H. Lindeberg purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The stock was bought at an average cost of $67.93 per share, with a total value of $135,860.00. Following the acquisition, the director now owns 22,000 shares of the company’s stock, valued at approximately $1,494,460. The disclosure for this purchase can be found here. Insiders bought 4,000 shares of company stock valued at $277,620 over the last quarter. Company insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SAFT. First Trust Advisors LP grew its position in Safety Insurance Group by 55.1% in the 1st quarter. First Trust Advisors LP now owns 9,408 shares of the insurance provider’s stock valued at $820,000 after acquiring an additional 3,342 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Safety Insurance Group by 162.9% in the first quarter. Russell Investments Group Ltd. now owns 17,961 shares of the insurance provider’s stock valued at $1,515,000 after purchasing an additional 11,128 shares in the last quarter. Swiss National Bank raised its stake in shares of Safety Insurance Group by 1.1% in the first quarter. Swiss National Bank now owns 28,300 shares of the insurance provider’s stock valued at $2,389,000 after acquiring an additional 300 shares in the last quarter. State Street Corp boosted its holdings in Safety Insurance Group by 6.9% in the first quarter. State Street Corp now owns 528,793 shares of the insurance provider’s stock valued at $44,646,000 after purchasing an additional 34,062 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Safety Insurance Group by 364.3% in the first quarter. Acadian Asset Management LLC now owns 2,461 shares of the insurance provider’s stock valued at $208,000 after purchasing an additional 1,931 shares during the period. 80.71% of the stock is owned by institutional investors and hedge funds.

Separately, BidaskClub raised shares of Safety Insurance Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, 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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