CW Advisors LLC Purchases New Holdings 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 purchased a new stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 91,664 shares of the insurance provider's stock, valued at approximately $7,230,000. CW Advisors LLC owned about 0.62% of Safety Insurance Group at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Safety Insurance Group during the 4th quarter valued at about $34,000. Parallel Advisors LLC grew its holdings in Safety Insurance Group by 169.9% during the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 282 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Safety Insurance Group by 823.5% during the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 420 shares during the last quarter. GAMMA Investing LLC grew its holdings in Safety Insurance Group by 67.9% during the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock valued at $64,000 after purchasing an additional 328 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Safety Insurance Group during the 4th quarter valued at about $181,000. 81.04% of the stock is currently owned by institutional investors.

Safety Insurance Group Price Performance

Shares of SAFT stock opened at $75.74 on Friday. 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 market capitalization of $1.13 billion, a P/E ratio of 13.26 and a beta of 0.26. The company's 50-day simple moving average is $74.09 and its two-hundred day simple moving average is $76.88. 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 issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($0.15). The company had revenue of $345.83 million during 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.92 per share. This is a boost from Safety Insurance Group's previous quarterly dividend of $0.90. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Tuesday, September 2nd. Safety Insurance Group's payout ratio is 63.05%.

Insider Activity

In other Safety Insurance Group news, Director Dennis J. Langwell acquired 2,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the completion of the purchase, the director 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded 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.

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