Safety Insurance Group, Inc. $SAFT Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,828 shares of the insurance provider’s stock after acquiring an additional 1,172 shares during the period. Bank of New York Mellon Corp owned about 1.41% of Safety Insurance Group worth $16,658,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new position in Safety Insurance Group in the first quarter worth about $1,123,000. KLP Kapitalforvaltning AS lifted its holdings in Safety Insurance Group by 147.1% during the 1st quarter. KLP Kapitalforvaltning AS now owns 8,400 shares of the insurance provider’s stock worth $663,000 after buying an additional 5,000 shares during the last quarter. Legato Capital Management LLC grew its position in shares of Safety Insurance Group by 172.3% in the 1st quarter. Legato Capital Management LLC now owns 13,080 shares of the insurance provider’s stock worth $1,032,000 after acquiring an additional 8,277 shares in the last quarter. XTX Topco Ltd grew its position in shares of Safety Insurance Group by 25.6% in the 1st quarter. XTX Topco Ltd now owns 5,807 shares of the insurance provider’s stock worth $458,000 after acquiring an additional 1,184 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Safety Insurance Group by 66.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,271 shares of the insurance provider’s stock valued at $968,000 after acquiring an additional 4,906 shares during the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SAFT shares. Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Safety Insurance Group Trading Down 1.4%

Shares of NASDAQ:SAFT opened at $76.13 on Tuesday. 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 company’s 50-day moving average price is $71.43 and its 200 day moving average price is $74.52. The company has a market cap of $1.13 billion, a PE ratio of 13.33 and a beta of 0.26. Safety Insurance Group, Inc. has a fifty-two week low of $67.04 and a fifty-two week high of $89.33.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Monday, November 3rd. The insurance provider reported $1.48 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.32). Safety Insurance Group had a return on equity of 8.34% and a net margin of 7.07%.The firm had revenue of $323.21 million during the quarter.

Safety Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, December 1st. Safety Insurance Group’s dividend payout ratio (DPR) is currently 62.48%.

Insider Buying and Selling

In other Safety Insurance Group news, Director Dennis J. Langwell bought 2,000 shares of the business’s stock in a transaction on Friday, September 5th. The shares were purchased at an average price 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 approximately $579,120. The trade was a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

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.