Charles Schwab Investment Management Inc. Sells 7,955 Shares of Safety Insurance Group, Inc. $SAFT

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Safety Insurance Group by 3.3%, selling 7,955 shares and holding a total of 231,610 shares valued at approximately $18.27 million.
• Safety Insurance Group announced a quarterly dividend of $0.92, marking an increase from the previous $0.90 dividend, with a yield of 4.9% and a payout ratio of 63.05%.
• Shares of Safety Insurance Group are currently trading at $75.74, with a 52-week low of $68.76 and a high of $90.00, while the company reported earnings of $1.45 per share, missing estimates by 15 cents.

Charles Schwab Investment Management Inc. cut its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,610 shares of the insurance provider's stock after selling 7,955 shares during the period. Charles Schwab Investment Management Inc. owned about 1.56% of Safety Insurance Group worth $18,269,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. XTX Topco Ltd boosted its position in Safety Insurance Group by 25.6% during the 1st quarter. XTX Topco Ltd now owns 5,807 shares of the insurance provider's stock worth $458,000 after buying an additional 1,184 shares during the period. Legato Capital Management LLC boosted its position in Safety Insurance Group by 172.3% during the 1st quarter. Legato Capital Management LLC now owns 13,080 shares of the insurance provider's stock worth $1,032,000 after buying an additional 8,277 shares during the period. KLP Kapitalforvaltning AS grew its position in shares of Safety Insurance Group by 147.1% in the 1st quarter. KLP Kapitalforvaltning AS now owns 8,400 shares of the insurance provider's stock valued at $663,000 after buying an additional 5,000 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Safety Insurance Group in the 1st quarter valued at about $1,123,000. Finally, Principal Financial Group Inc. grew its position in shares of Safety Insurance Group by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider's stock valued at $5,827,000 after buying an additional 1,926 shares during the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Safety Insurance Group

In other Safety Insurance Group news, Director Dennis J. Langwell bought 2,000 shares of the business'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 in the company, valued at approximately $428,940. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Safety Insurance Group Trading Up 0.5%

Shares of Safety Insurance Group stock traded up $0.36 on Thursday, hitting $73.69. 216,364 shares of the company's stock traded hands, compared to its average volume of 88,878. Safety Insurance Group, Inc. has a one year low of $68.76 and a one 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. The company has a fifty day moving average of $73.71 and a two-hundred day moving average of $76.74. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 12.91 and a beta of 0.26.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 EPS for the quarter, missing the consensus estimate 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 business had revenue of $345.83 million for the quarter.

Safety Insurance Group Increases Dividend

The firm 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 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's dividend payout ratio is currently 63.05%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered 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.