Short Interest in Safety Insurance Group, Inc. (NASDAQ:SAFT) Expands By 46.7%

Safety Insurance Group, Inc. (NASDAQ:SAFT) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 132,044 shares, an increase of 46.7% from the December 31st total of 89,992 shares. Based on an average trading volume of 67,928 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.9% of the shares of the stock are short sold. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 67,928 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On Safety Insurance Group

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its stake in Safety Insurance Group by 9.9% during the 1st quarter. Royal Bank of Canada now owns 10,148 shares of the insurance provider’s stock worth $801,000 after buying an additional 914 shares during the last quarter. AQR Capital Management LLC increased its position in Safety Insurance Group by 19.7% during the 1st quarter. AQR Capital Management LLC now owns 34,093 shares of the insurance provider’s stock worth $2,689,000 after purchasing an additional 5,619 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Safety Insurance Group by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock worth $689,000 after acquiring an additional 389 shares during the period. Millennium Management LLC grew its stake in shares of Safety Insurance Group by 284.9% during the 1st quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock worth $6,765,000 after purchasing an additional 63,480 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Safety Insurance Group by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,747 shares of the insurance provider’s stock worth $2,662,000 after buying an additional 3,011 shares during the period. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Safety Insurance Group Price Performance

Shares of SAFT opened at $79.04 on Tuesday. The company has a 50 day moving average of $76.97 and a two-hundred day moving average of $73.79. The company has a quick ratio of 0.41, a current ratio of 0.41 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 $84.20. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 13.42 and a beta of 0.22.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Monday, November 3rd. The insurance provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.32). Safety Insurance Group had a return on equity of 8.85% and a net margin of 7.09%.The firm had revenue of $323.21 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.