Parallel Advisors LLC Increases Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Parallel Advisors LLC grew its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 169.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 448 shares of the insurance provider’s stock after buying an additional 282 shares during the period. Parallel Advisors LLC’s holdings in Safety Insurance Group were worth $35,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Safety Insurance Group by 94.9% during the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider’s stock valued at $25,000 after buying an additional 150 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Safety Insurance Group in the fourth quarter worth approximately $34,000. Sterling Capital Management LLC boosted 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 valued at $39,000 after purchasing an additional 420 shares during the last quarter. KBC Group NV boosted its position in shares of Safety Insurance Group by 52.2% during the fourth quarter. KBC Group NV now owns 1,000 shares of the insurance provider’s stock valued at $82,000 after buying an additional 343 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Safety Insurance Group in the 4th quarter worth about $181,000. 81.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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 0.9%

NASDAQ SAFT opened at $79.32 on Tuesday. Safety Insurance Group, Inc. has a twelve month low of $70.71 and a twelve month high of $90.00. The business has a 50-day moving average price of $78.81 and a 200-day moving average price of $79.61. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 15.71 and a beta of 0.27.

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 Announces Dividend

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 $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, June 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is 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.