Goldman Sachs Group Inc. Trims Holdings in Safety Insurance Group, Inc. $SAFT

Goldman Sachs Group Inc. lessened its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 28.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,149 shares of the insurance provider’s stock after selling 26,123 shares during the period. Goldman Sachs Group Inc. owned about 0.44% of Safety Insurance Group worth $5,218,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in Safety Insurance Group during the 1st quarter valued at about $2,717,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Safety Insurance Group by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,747 shares of the insurance provider’s stock valued at $2,662,000 after purchasing an additional 3,011 shares during the period. Dean Capital Management increased its holdings in Safety Insurance Group by 171.9% during the 1st quarter. Dean Capital Management now owns 20,765 shares of the insurance provider’s stock valued at $1,638,000 after purchasing an additional 13,128 shares during the period. Millennium Management LLC grew its holdings in shares of Safety Insurance Group by 284.9% during the 1st quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock worth $6,765,000 after acquiring an additional 63,480 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Safety Insurance Group by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock worth $689,000 after acquiring an additional 389 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Stock Down 1.9%

SAFT stock opened at $71.53 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.42 and a current ratio of 0.42. The business’s 50 day moving average price is $72.52 and its two-hundred day moving average price is $76.34. Safety Insurance Group, Inc. has a fifty-two week low of $68.76 and a fifty-two week high of $90.00. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.53 and a beta of 0.28.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.45 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 company had revenue of $345.83 million during the quarter.

Safety Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.1%. This is an increase from Safety Insurance Group’s previous quarterly dividend of $0.90. Safety Insurance Group’s payout ratio is presently 64.45%.

Insider Activity at Safety Insurance Group

In related news, Director Dennis J. Langwell purchased 2,000 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were purchased at an average cost of $72.39 per share, with a total value of $144,780.00. Following the transaction, the director directly owned 8,000 shares in the company, valued at $579,120. This trade represents a 33.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.