Safety Insurance Group, Inc. $SAFT Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 50.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,221 shares of the insurance provider’s stock after buying an additional 410 shares during the period. GAMMA Investing LLC’s holdings in Safety Insurance Group were worth $97,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SAFT. Bank of America Corp DE grew its stake in shares of Safety Insurance Group by 12.2% during the 4th quarter. Bank of America Corp DE now owns 17,790 shares of the insurance provider’s stock valued at $1,466,000 after buying an additional 1,930 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Safety Insurance Group during the 4th quarter valued at $1,004,000. Two Sigma Advisers LP purchased a new stake in shares of Safety Insurance Group during the 4th quarter valued at $305,000. Parallel Advisors LLC grew its stake in shares of Safety Insurance Group by 169.9% during the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider’s stock valued at $35,000 after buying an additional 282 shares during the period. Finally, Naples Global Advisors LLC boosted its position in Safety Insurance Group by 10.9% during the 1st quarter. Naples Global Advisors LLC now owns 19,273 shares of the insurance provider’s stock worth $1,520,000 after purchasing an additional 1,900 shares during the period. 81.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of 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 opened at $70.22 on Thursday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 12.30 and a beta of 0.26. Safety Insurance Group, Inc. has a fifty-two week low of $68.76 and a fifty-two week high of $90.00. The company’s 50-day moving average price is $72.28 and its 200 day moving average price is $75.96. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.03.

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

Safety Insurance Group Increases Dividend

The firm also recently disclosed 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 5.2%. This is a positive change from Safety Insurance Group’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, September 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is currently 64.45%.

Insiders Place Their Bets

In other Safety Insurance Group news, Director Dennis J. Langwell acquired 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 purchase, the director directly owned 8,000 shares in the company, valued at $579,120. The trade was a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have bought a total of 4,055 shares of company stock worth $291,705 in the last quarter. 2.00% of the stock is owned by corporate insiders.

About Safety Insurance Group

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.