AlphaQuest LLC Has $1.09 Million Stock Holdings in 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 increased its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 57.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,766 shares of the insurance provider's stock after buying an additional 5,015 shares during the period. AlphaQuest LLC owned 0.09% of Safety Insurance Group worth $1,086,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC raised its stake in Safety Insurance Group by 169.9% in the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock worth $35,000 after purchasing an additional 282 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Safety Insurance Group by 4.0% in the 4th 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 in the last quarter. GAMMA Investing LLC raised its position in shares of Safety Insurance Group by 67.9% in the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock valued at $64,000 after buying an additional 328 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Safety Insurance Group in the 4th quarter valued at approximately $34,000. Finally, Mariner LLC raised its position in shares of Safety Insurance Group by 6.3% in the 4th quarter. Mariner LLC now owns 7,360 shares of the insurance provider's stock valued at $606,000 after buying an additional 439 shares in the last quarter. Institutional investors own 81.04% of the company's stock.

Safety Insurance Group Trading Down 0.2%

SAFT traded down $0.18 during trading on Friday, reaching $73.51. 53,993 shares of the company's stock were exchanged, compared to its average volume of 67,362. The firm has a fifty day moving average price of $73.71 and a two-hundred day moving average price of $76.74. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03. Safety Insurance Group, Inc. has a one year low of $68.76 and a one year high of $90.00. The stock has a market capitalization of $1.09 billion, a PE ratio of 12.87 and a beta of 0.26.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($0.15). Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%. The firm had revenue of $345.83 million during the quarter.

Safety Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, September 2nd. This is a boost from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's dividend payout ratio is presently 63.05%.

Insider Activity

In related news, Director Dennis J. Langwell bought 2,000 shares of the company's 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 transaction, the director directly owned 6,000 shares of the company's stock, valued at approximately $428,940. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.

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 research 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.