Exchange Traded Concepts LLC Raises Stock Holdings in Safety Insurance Group, Inc. $SAFT

Exchange Traded Concepts LLC raised its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 2.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,648 shares of the insurance provider’s stock after buying an additional 204 shares during the quarter. Exchange Traded Concepts LLC owned about 0.07% of Safety Insurance Group worth $845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SAFT. Parallel Advisors LLC increased its holdings in shares of Safety Insurance Group by 169.9% in the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 282 shares during the period. GAMMA Investing LLC grew its holdings in Safety Insurance Group by 67.9% in the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider’s stock valued at $64,000 after purchasing an additional 328 shares during the period. Two Sigma Advisers LP acquired a new stake in Safety Insurance Group in the fourth quarter valued at approximately $305,000. CenterBook Partners LP purchased a new position in shares of Safety Insurance Group in the first quarter valued at approximately $332,000. Finally, Ieq Capital LLC lifted its position in shares of Safety Insurance Group by 35.3% in the first quarter. Ieq Capital LLC now owns 4,586 shares of the insurance provider’s stock valued at $362,000 after acquiring an additional 1,196 shares in the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Dennis J. Langwell bought 2,000 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost of $72.39 per share, with a total value of $144,780.00. Following the purchase, the director directly owned 8,000 shares of the company’s stock, valued at $579,120. This trade represents a 33.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders acquired 4,055 shares of company stock worth $291,705. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Safety Insurance Group Price Performance

SAFT stock opened at $71.94 on Wednesday. The business has a fifty day moving average of $72.44 and a two-hundred day moving average of $76.20. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 12.60 and a beta of 0.28. Safety Insurance Group, Inc. has a 52-week low of $68.76 and a 52-week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $345.83 million for the quarter.

Safety Insurance Group Increases Dividend

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

Safety Insurance Group Company 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.