Safety Insurance Group Inc. (SAFT) shares advanced to a 52-week high of $103.76 on Monday, extending a multi-month rally that has delivered a 43.75% total return over the past 12 months.
The stock has gained 37.17% since the start of the year, lifting the company’s market capitalization to $1.52 billion. Safety Insurance maintains a 24-year streak of uninterrupted dividend payments, currently yielding 3.55% at a price-to-earnings ratio of 22.26.
The insurer also announced an amendment to its revolving credit agreement with Citizens Bank, N.A., doubling the committed facility to $100 million and extending the maturity to June 9, 2031. No additional amounts were drawn under the amended terms as of the report date, and obligations remain secured by certain accounts receivable and related assets.
InvestingPro data indicates the stock’s Relative Strength Index has entered overbought territory, flagging potential near-term consolidation despite the recent upward momentum.
