AlphaQuest LLC Purchases 5,015 Shares of Safety Insurance Group, Inc. $SAFT

Key Points

• AlphaQuest LLC increased its stake in Safety Insurance Group by 57.3%, acquiring an additional 5,015 shares, bringing its total ownership to approximately 0.09% valued at $1,086,000.
• The company announced a quarterly dividend increase to $0.92 per share, with an annualized dividend yield of 4.9%, with the ex-dividend date set for September 2nd.
• Safety Insurance Group reported a missed earnings expectation in its latest quarter, with earnings per share of $1.45, falling short of the consensus estimate of $1.60.

AlphaQuest LLC lifted its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 57.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,766 shares of the insurance provider's stock after acquiring an additional 5,015 shares during the period. AlphaQuest LLC owned approximately 0.09% of Safety Insurance Group worth $1,086,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Safety Insurance Group by 169.9% during the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 282 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Safety Insurance Group by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,345 shares of the insurance provider's stock worth $688,000 after purchasing an additional 318 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Safety Insurance Group by 67.9% in the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock worth $64,000 after purchasing an additional 328 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Safety Insurance Group in the fourth quarter worth approximately $34,000. Finally, Mariner LLC boosted its holdings in Safety Insurance Group by 6.3% in the fourth quarter. Mariner LLC now owns 7,360 shares of the insurance provider's stock worth $606,000 after purchasing an additional 439 shares during the last quarter. Institutional investors own 81.04% of the company's stock.

Safety Insurance Group Trading Up 2.2%

Shares of Safety Insurance Group stock opened at $75.74 on Friday. The company's fifty day simple moving average is $74.09 and its 200-day simple moving average is $76.87. The stock has a market capitalization of $1.13 billion, a PE ratio of 13.26 and a beta of 0.26. Safety Insurance Group, Inc. has a 1-year low of $68.76 and a 1-year high of $90.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.42 and a quick ratio of 0.42.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.15). The business had revenue of $345.83 million for the quarter. Safety Insurance Group had a return on equity of 8.34% and a net margin of 7.07%.

Safety Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.92 per share. This is a positive change from Safety Insurance Group's previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 2nd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.9%. Safety Insurance Group's dividend payout ratio is presently 64.45%.

Insider Buying and Selling at Safety Insurance Group

In other news, Director Dennis J. Langwell bought 2,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $71.49 per share, for a total transaction of $142,980.00. Following the purchase, the director owned 6,000 shares in the company, valued at $428,940. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, August 9th.

Safety Insurance Group 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.

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