CW Advisors LLC Makes New $7.23 Million Investment in Safety Insurance Group, Inc. $SAFT

Key Points

• CW Advisors LLC has acquired a new stake in Safety Insurance Group, purchasing 91,664 shares valued at approximately $7.23 million during the 1st quarter of the year.
• Safety Insurance Group has announced a quarterly dividend increase from $0.90 to $0.92 per share, with a dividend yield of 4.9%.
• Analysts at Wall Street Zen have downgraded Safety Insurance Group's stock rating from "buy" to "hold," reflecting a cautious outlook on the company's performance.

CW Advisors LLC bought a new stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 91,664 shares of the insurance provider's stock, valued at approximately $7,230,000. CW Advisors LLC owned 0.62% of Safety Insurance Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SAFT. Point72 Asia Singapore Pte. Ltd. bought a new stake in Safety Insurance Group in the 4th quarter valued at about $34,000. Parallel Advisors LLC increased its holdings 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. Sterling Capital Management LLC raised its position in shares of Safety Insurance Group by 823.5% during the fourth quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock worth $39,000 after purchasing an additional 420 shares during the period. GAMMA Investing LLC lifted its holdings 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 worth $64,000 after purchasing an additional 328 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Safety Insurance Group in the 4th quarter valued at $181,000. 81.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Dennis J. Langwell bought 2,000 shares of Safety Insurance Group stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $71.49 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

Safety Insurance Group Stock Down 0.8%

NASDAQ:SAFT traded down $0.56 on Thursday, hitting $72.79. The stock had a trading volume of 24,477 shares, compared to its average volume of 66,301. The firm's fifty day simple moving average is $73.79 and its two-hundred day simple moving average is $76.77. The stock has a market cap of $1.08 billion, a P/E ratio of 12.75 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 quick ratio of 0.42 and a current ratio of 0.42.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share (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 business had revenue of $345.83 million during the quarter.

Safety Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.92 dividend. This is a positive change from Safety Insurance Group's previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Safety Insurance Group's payout ratio is presently 63.05%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a research note 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.