Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 144.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,281 shares of the insurance provider’s stock after acquiring an additional 13,152 shares during the quarter. Millennium Management LLC owned approximately 0.15% of Safety Insurance Group worth $1,836,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. TimesSquare Capital Management LLC lifted its stake in shares of Safety Insurance Group by 17.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 602,449 shares of the insurance provider’s stock worth $49,642,000 after acquiring an additional 89,561 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Safety Insurance Group by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider’s stock valued at $19,740,000 after buying an additional 6,542 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Safety Insurance Group by 46.4% during the fourth quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider’s stock valued at $18,125,000 after buying an additional 69,750 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Safety Insurance Group by 21.4% during the fourth quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider’s stock valued at $17,498,000 after buying an additional 37,495 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Safety Insurance Group by 6.9% during the fourth quarter. Northern Trust Corp now owns 166,223 shares of the insurance provider’s stock valued at $13,697,000 after buying an additional 10,768 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd.

Safety Insurance Group Stock Down 0.4%

Shares of NASDAQ SAFT opened at $81.84 on Tuesday. The stock’s 50 day moving average price is $78.74 and its two-hundred day moving average price is $79.72. Safety Insurance Group, Inc. has a 52-week low of $70.71 and a 52-week high of $90.00. The stock has a market capitalization of $1.22 billion, a P/E ratio of 16.21 and a beta of 0.22.

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

Safety Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Monday, June 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is presently 73.62%.

About Safety Insurance Group

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.