Safety Insurance Group, Inc. (NASDAQ:SAFT) Short Interest Down 7.1% in July

Safety Insurance Group, Inc. (NASDAQ:SAFT) was the target of a large drop in short interest in July. As of July 15th, there was short interest totalling 169,600 shares, a drop of 7.1% from the June 15th total of 182,600 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 35,600 shares, the days-to-cover ratio is presently 4.8 days.

Several institutional investors have recently added to or reduced their stakes in the business. Ronna Sue Cohen raised its holdings in Safety Insurance Group by 8,624.9% in the first quarter. Ronna Sue Cohen now owns 2,785,522 shares of the insurance provider’s stock valued at $2,786,000 after buying an additional 2,753,596 shares during the period. Norges Bank purchased a new stake in shares of Safety Insurance Group during the fourth quarter valued at approximately $27,087,000. Westwood Holdings Group Inc. raised its stake in shares of Safety Insurance Group by 20.0% during the first quarter. Westwood Holdings Group Inc. now owns 180,936 shares of the insurance provider’s stock valued at $15,767,000 after purchasing an additional 30,127 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Safety Insurance Group by 120.5% during the first quarter. Assenagon Asset Management S.A. now owns 35,700 shares of the insurance provider’s stock valued at $3,111,000 after purchasing an additional 19,508 shares during the period. Finally, Bowling Portfolio Management LLC purchased a new stake in shares of Safety Insurance Group during the second quarter valued at approximately $1,758,000. 81.27% of the stock is currently owned by institutional investors.

Separately, BidaskClub upgraded shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th.

Shares of SAFT opened at $100.44 on Wednesday. The company has a 50-day moving average of $96.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $1.52 billion, a P/E ratio of 14.65 and a beta of 0.62. Safety Insurance Group has a 52-week low of $77.58 and a 52-week high of $100.78.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.36 earnings per share (EPS) for the quarter. Safety Insurance Group had a net margin of 12.25% and a return on equity of 14.41%. The company had revenue of $222.58 million for the quarter.

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.

Further Reading: Range Trading

Receive News & Ratings for Safety Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safety Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.