Swiss National Bank Sells 200 Shares of Safety Insurance Group, Inc. $SAFT

Swiss National Bank reduced its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,800 shares of the insurance provider’s stock after selling 200 shares during the quarter. Swiss National Bank owned 0.19% of Safety Insurance Group worth $2,272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northern Trust Corp boosted its stake in shares of 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 purchasing an additional 10,768 shares during the period. Principal Financial Group Inc. increased its stake in shares of Safety Insurance Group by 2.7% in the first quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider’s stock worth $5,827,000 after buying an additional 1,926 shares during the period. GAMMA Investing LLC raised its holdings in Safety Insurance Group by 13,144.7% during the 1st quarter. GAMMA Investing LLC now owns 63,972 shares of the insurance provider’s stock valued at $5,046,000 after buying an additional 63,489 shares during the last quarter. Barclays PLC boosted its position in Safety Insurance Group by 5.8% during the 4th quarter. Barclays PLC now owns 25,851 shares of the insurance provider’s stock valued at $2,129,000 after buying an additional 1,421 shares during the period. Finally, Millennium Management LLC grew its holdings in Safety Insurance Group by 144.1% in the 4th quarter. Millennium Management LLC now owns 22,281 shares of the insurance provider’s stock worth $1,836,000 after acquiring an additional 13,152 shares during the last quarter. Institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Stock Performance

Shares of SAFT opened at $75.74 on Friday. The company has a 50-day simple moving average of $74.09 and a two-hundred day simple moving average of $76.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $1.13 billion, a PE ratio of 13.26 and a beta of 0.26. Safety Insurance Group, Inc. has a one year low of $68.76 and a one year high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.15). Safety Insurance Group had a return on equity of 8.34% and a net margin of 7.07%.The firm had revenue of $345.83 million during the quarter.

Safety Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.92 dividend. This is an increase from Safety Insurance Group’s previous quarterly dividend of $0.90. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Safety Insurance Group’s payout ratio is currently 63.05%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th.

Insider Activity at Safety Insurance Group

In other news, Director Dennis J. Langwell acquired 2,000 shares of Safety Insurance Group stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the purchase, the director owned 6,000 shares in the company, valued at $428,940. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

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.