Balyasny Asset Management L.P. Invests $453,000 in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Balyasny Asset Management L.P. acquired a new position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,503 shares of the insurance provider's stock, valued at approximately $453,000.

A number of other large investors have also recently bought and sold shares of the company. Signaturefd LLC grew its position in Safety Insurance Group by 94.9% in the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Safety Insurance Group by 823.5% during the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 420 shares during the last quarter. KBC Group NV increased its position in Safety Insurance Group by 52.2% during the 4th quarter. KBC Group NV now owns 1,000 shares of the insurance provider's stock worth $82,000 after purchasing an additional 343 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in Safety Insurance Group in the fourth quarter valued at approximately $240,000. Finally, Ieq Capital LLC bought a new position in shares of Safety Insurance Group in the 4th quarter valued at $279,000. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Safety Insurance Group Stock Performance

Shares of SAFT traded down $1.41 during mid-day trading on Wednesday, reaching $81.87. 16,354 shares of the company were exchanged, compared to its average volume of 54,821. The business has a 50 day simple moving average of $77.96 and a two-hundred day simple moving average of $79.91. The stock has a market capitalization of $1.22 billion, a PE ratio of 16.17 and a beta of 0.22. Safety Insurance Group, Inc. has a 52 week low of $70.71 and a 52 week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.03. The firm had revenue of $298.97 million during the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Monday, June 2nd. Safety Insurance Group's dividend payout ratio (DPR) is presently 73.62%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Safety Insurance Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

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.