Victory Capital Management Inc. raised its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,964 shares of the insurance provider’s stock after buying an additional 815 shares during the quarter. Victory Capital Management Inc. owned 0.12% of Safety Insurance Group worth $1,610,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in Safety Insurance Group in the 3rd quarter valued at $2,231,000. Bank of Montreal Can grew its holdings in Safety Insurance Group by 29.0% in the 3rd quarter. Bank of Montreal Can now owns 30,990 shares of the insurance provider’s stock valued at $2,777,000 after buying an additional 6,959 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Safety Insurance Group by 32.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,639 shares of the insurance provider’s stock valued at $594,000 after buying an additional 1,640 shares in the last quarter. Northern Trust Corp grew its holdings in Safety Insurance Group by 0.6% in the 2nd quarter. Northern Trust Corp now owns 544,532 shares of the insurance provider’s stock valued at $46,503,000 after buying an additional 3,169 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Safety Insurance Group by 13.2% in the 2nd quarter. California Public Employees Retirement System now owns 16,048 shares of the insurance provider’s stock valued at $1,370,000 after buying an additional 1,871 shares in the last quarter. 79.94% of the stock is currently owned by hedge funds and other institutional investors.
Separately, BidaskClub lowered Safety Insurance Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th.
SAFT opened at $88.81 on Monday. The firm has a market cap of $1.36 billion, a PE ratio of 17.76 and a beta of 0.65. Safety Insurance Group, Inc. has a 52-week low of $70.45 and a 52-week high of $99.70.
Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Wednesday, October 31st. The insurance provider reported $1.76 earnings per share (EPS) for the quarter. The company had revenue of $215.91 million for the quarter. Safety Insurance Group had a return on equity of 11.02% and a net margin of 8.99%.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Friday, November 30th.
In related news, VP James Berry sold 5,130 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $98.02, for a total value of $502,842.60. Following the sale, the vice president now directly owns 30,514 shares of the company’s stock, valued at $2,990,982.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David D. Mckown sold 1,235 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were 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 directly owns 4,500 shares in the company, valued at $434,385. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,130 shares of company stock worth $993,550. 4.90% of the stock is currently owned by insiders.
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About Safety Insurance Group
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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