Neuberger Berman Group LLC purchased a new stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,877 shares of the insurance provider’s stock, valued at approximately $220,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in SAFT. SG Americas Securities LLC boosted its stake in Safety Insurance Group by 67.2% during the third quarter. SG Americas Securities LLC now owns 2,450 shares of the insurance provider’s stock valued at $187,000 after buying an additional 985 shares during the period. Grimes & Company Inc. bought a new stake in Safety Insurance Group during the third quarter valued at $217,000. Piedmont Investment Advisors LLC bought a new stake in Safety Insurance Group during the second quarter valued at $211,000. Crossmark Global Holdings Inc. bought a new stake in Safety Insurance Group during the third quarter valued at $329,000. Finally, QS Investors LLC boosted its stake in Safety Insurance Group by 45.0% during the second quarter. QS Investors LLC now owns 4,403 shares of the insurance provider’s stock valued at $301,000 after buying an additional 1,367 shares during the period. Institutional investors own 78.59% of the company’s stock.
Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) opened at $78.65 on Friday. The stock has a market capitalization of $1,177.23, a price-to-earnings ratio of 18.95 and a beta of 0.79. Safety Insurance Group, Inc. has a 52 week low of $65.75 and a 52 week high of $84.00.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.07%. The ex-dividend date was Thursday, November 30th. Safety Insurance Group’s dividend payout ratio is 77.11%.
In related news, Director Frederic H. Lindeberg sold 2,000 shares of Safety Insurance Group stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $82.35, for a total transaction of $164,700.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,647,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David F. Brussard sold 14,549 shares of Safety Insurance Group stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $81.36, for a total value of $1,183,706.64. Following the sale, the director now directly owns 12,077 shares of the company’s stock, valued at approximately $982,584.72. The disclosure for this sale can be found here. Insiders have sold 33,505 shares of company stock valued at $2,712,266 in the last three months. 4.90% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on SAFT shares. BidaskClub lowered Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Compass Point lowered Safety Insurance Group from a “neutral” rating to a “sell” rating in a research note on Monday, October 16th.
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About Safety Insurance Group
Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.
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