Victory Capital Management Inc. raised its position in Safety Insurance Group, Inc. (NASDAQ:SAFT – Get Rating) by 70.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 205,240 shares of the insurance provider’s stock after purchasing an additional 84,663 shares during the period. Victory Capital Management Inc.’s holdings in Safety Insurance Group were worth $17,669,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SAFT. Allspring Global Investments Holdings LLC purchased a new stake in Safety Insurance Group in the fourth quarter valued at approximately $6,028,000. Assenagon Asset Management S.A. lifted its stake in Safety Insurance Group by 210.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 80,132 shares of the insurance provider’s stock valued at $6,814,000 after buying an additional 54,304 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Safety Insurance Group in the fourth quarter valued at approximately $3,058,000. Allianz Asset Management GmbH lifted its stake in Safety Insurance Group by 188.8% in the fourth quarter. Allianz Asset Management GmbH now owns 50,144 shares of the insurance provider’s stock valued at $4,264,000 after buying an additional 32,781 shares during the last quarter. Finally, CWM LLC purchased a new stake in Safety Insurance Group in the fourth quarter valued at approximately $1,829,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.
Insider Transactions at Safety Insurance Group
In related news, Director Peter J. Manning sold 2,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $90.93, for a total transaction of $181,860.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $454,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.20% of the company’s stock.
Wall Street Analyst Weigh In
Safety Insurance Group Price Performance
Safety Insurance Group stock opened at $88.96 on Friday. Safety Insurance Group, Inc. has a 12 month low of $76.50 and a 12 month high of $99.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.33 and a quick ratio of 0.33. The business has a 50 day simple moving average of $92.35 and a 200-day simple moving average of $88.79. The stock has a market capitalization of $1.31 billion, a PE ratio of 18.38 and a beta of 0.22.
Safety Insurance Group (NASDAQ:SAFT – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $0.99 EPS for the quarter. Safety Insurance Group had a return on equity of 10.17% and a net margin of 8.87%. The business had revenue of $195.00 million during the quarter.
Safety Insurance Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Wednesday, August 31st. Safety Insurance Group’s dividend payout ratio (DPR) is presently 74.38%.
Safety Insurance Group Company Profile
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.
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