GAMMA Investing LLC Purchases 63,489 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

GAMMA Investing LLC boosted its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 13,144.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,972 shares of the insurance provider’s stock after acquiring an additional 63,489 shares during the quarter. GAMMA Investing LLC owned 0.43% of Safety Insurance Group worth $5,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SAFT. Signaturefd LLC increased its holdings in Safety Insurance Group by 94.9% in the 4th 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 Safety Insurance Group in the 4th quarter valued at about $34,000. Sterling Capital Management LLC increased its stake in Safety Insurance Group by 823.5% in the fourth quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 420 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Safety Insurance Group in the fourth quarter valued at approximately $181,000. Finally, Parvin Asset Management LLC bought a new position in Safety Insurance Group in the fourth quarter valued at approximately $240,000. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Price Performance

Shares of SAFT stock opened at $79.41 on Wednesday. The business’s 50 day simple moving average is $78.80 and its 200 day simple moving average is $79.57. Safety Insurance Group, Inc. has a one year low of $70.71 and a one year high of $90.00. The stock has a market capitalization of $1.18 billion, a PE ratio of 15.72 and a beta of 0.27.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $298.97 million for the quarter.

Safety Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.60 annualized dividend and a dividend yield of 4.53%. Safety Insurance Group’s payout ratio is currently 73.62%.

Analyst Ratings Changes

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

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.