3,849 Shares in Safety Insurance Group, Inc. $SAFT Acquired by Ballentine Partners LLC

Ballentine Partners LLC bought a new stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,849 shares of the insurance provider’s stock, valued at approximately $306,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SAFT. Adage Capital Partners GP L.L.C. boosted its position in Safety Insurance Group by 41.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 217,000 shares of the insurance provider’s stock valued at $17,117,000 after purchasing an additional 64,000 shares in the last quarter. CW Advisors LLC purchased a new stake in shares of Safety Insurance Group during the first quarter valued at about $7,230,000. Millennium Management LLC boosted its holdings in shares of Safety Insurance Group by 284.9% in the 1st quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock valued at $6,765,000 after buying an additional 63,480 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Safety Insurance Group by 2.7% in the 1st 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 last quarter. Finally, American Century Companies Inc. raised its stake in shares of Safety Insurance Group by 2.8% during the 1st quarter. American Century Companies Inc. now owns 69,389 shares of the insurance provider’s stock worth $5,473,000 after acquiring an additional 1,914 shares in the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of 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 bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were purchased at an average price of $72.39 per share, for a total transaction of $144,780.00. Following the completion of the transaction, the director directly owned 8,000 shares in the company, valued at approximately $579,120. This represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders bought a total of 4,055 shares of company stock worth $291,705 over the last three months. Insiders own 2.00% of the company’s stock.

Safety Insurance Group Trading Down 0.0%

Shares of Safety Insurance Group stock opened at $71.19 on Monday. The firm’s 50 day simple moving average is $72.36 and its two-hundred day simple moving average is $76.09. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.47 and a beta of 0.28. Safety Insurance Group, Inc. has a 12-month low of $68.76 and a 12-month high of $90.00. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03.

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

Safety Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Safety Insurance Group’s previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a dividend yield of 5.2%. Safety Insurance Group’s dividend payout ratio (DPR) is 64.45%.

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.