Cubist Systematic Strategies LLC Buys Shares of 2,200 Safety Insurance Group, Inc. (NASDAQ:SAFT)

Cubist Systematic Strategies LLC acquired a new position in Safety Insurance Group, Inc. (NASDAQ:SAFT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,200 shares of the insurance provider’s stock, valued at approximately $181,000.

Several other institutional investors have also recently made changes to their positions in SAFT. Signaturefd LLC raised its stake in Safety Insurance Group by 94.9% during the 4th quarter. Signaturefd LLC now owns 308 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 150 shares during the period. Sterling Capital Management LLC raised its stake in Safety Insurance Group by 823.5% during the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 420 shares during the period. KBC Group NV raised its stake in Safety Insurance Group by 52.2% during the 4th quarter. KBC Group NV now owns 1,000 shares of the insurance provider’s stock worth $82,000 after acquiring an additional 343 shares during the period. Parvin Asset Management LLC bought a new stake in Safety Insurance Group during the 4th quarter worth approximately $240,000. Finally, Ieq Capital LLC bought a new stake in Safety Insurance Group during the 4th quarter worth approximately $279,000. Institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Price Performance

Shares of SAFT opened at $83.13 on Monday. Safety Insurance Group, Inc. has a 1 year low of $70.71 and a 1 year high of $90.00. The company has a 50 day simple moving average of $77.71 and a two-hundred day simple moving average of $79.85. The firm has a market cap of $1.24 billion, a P/E ratio of 16.46 and a beta of 0.22.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%. The firm had revenue of $298.97 million during the quarter.

Safety Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Monday, June 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is presently 73.62%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th.

Safety Insurance Group 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.