BlackRock Inc. boosted its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 6.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,059,400 shares of the insurance provider’s stock after purchasing an additional 121,796 shares during the quarter. BlackRock Inc. owned approximately 0.13% of Safety Insurance Group worth $175,873,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. KBC Group NV bought a new stake in Safety Insurance Group during the 2nd quarter valued at approximately $197,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Safety Insurance Group by 655.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,449 shares of the insurance provider’s stock worth $188,000 after acquiring an additional 2,125 shares during the period. SG Americas Securities LLC bought a new stake in shares of Safety Insurance Group in the 1st quarter worth approximately $192,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Safety Insurance Group in the 2nd quarter worth approximately $276,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Safety Insurance Group in the 1st quarter worth approximately $269,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.
In other Safety Insurance Group news, Director Frederic H. Lindeberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $92.45, for a total value of $92,450.00. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $1,386,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David D. Mckown sold 1,235 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $96.53, for a total value of $119,214.55. Following the completion of the sale, the director now owns 4,500 shares of the company’s stock, valued at approximately $434,385. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock valued at $583,157 in the last quarter. Corporate insiders own 4.90% of the company’s stock.
Shares of SAFT stock opened at $89.45 on Thursday. Safety Insurance Group, Inc. has a 12 month low of $70.45 and a 12 month high of $99.70. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 20.54 and a beta of 0.59.
Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Friday, August 3rd. The insurance provider reported $1.81 EPS for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.26. Safety Insurance Group had a return on equity of 9.74% and a net margin of 7.73%. The company had revenue of $207.97 million during the quarter.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th were given a $0.80 dividend. The ex-dividend date was Friday, August 31st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.58%.
SAFT has been the subject of a number of research reports. BidaskClub downgraded Safety Insurance Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 21st. ValuEngine upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd.
Safety Insurance Group Profile
Safety Insurance Group, Inc provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, 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.
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