Safety Insurance Group, Inc. $SAFT Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 66.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,271 shares of the insurance provider's stock after buying an additional 4,906 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Safety Insurance Group worth $968,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SAFT. GAMMA Investing LLC lifted its holdings in Safety Insurance Group by 13,144.7% during the 1st quarter. GAMMA Investing LLC now owns 63,972 shares of the insurance provider's stock worth $5,046,000 after buying an additional 63,489 shares during the last quarter. Raymond James Financial Inc. bought a new position in Safety Insurance Group during the 4th quarter worth approximately $1,200,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Safety Insurance Group in the 1st quarter worth approximately $1,123,000. Millennium Management LLC lifted its holdings in shares of Safety Insurance Group by 144.1% in the 4th quarter. Millennium Management LLC now owns 22,281 shares of the insurance provider's stock worth $1,836,000 after purchasing an additional 13,152 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Safety Insurance Group in the 4th quarter worth approximately $1,004,000. Institutional investors own 81.04% of the company's stock.

Insider Activity

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

Analyst Ratings Changes

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

Safety Insurance Group Stock Performance

Safety Insurance Group stock traded up $1.2750 during mid-day trading on Friday, hitting $75.3550. 17,168 shares of the company's stock traded hands, compared to its average volume of 65,992. The firm has a 50 day moving average price of $74.15 and a 200 day moving average price of $76.90. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.12 billion, a PE ratio of 13.18 and a beta of 0.26. Safety Insurance Group, Inc. has a one year low of $68.76 and a one year high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its 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 net margin of 7.07% and a return on equity of 8.34%.

Safety Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.92 per share. This is a boost from Safety Insurance Group's previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 2nd. This represents a $3.68 annualized dividend and a dividend yield of 4.9%. Safety Insurance Group's payout ratio is 63.05%.

About Safety Insurance Group

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.