D. E. Shaw & Co. Inc. Buys Shares of 7,950 Safety Insurance Group, Inc. (NASDAQ:SAFT)

D. E. Shaw & Co. Inc. bought a new position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 7,950 shares of the insurance provider's stock, valued at approximately $655,000. D. E. Shaw & Co. Inc. owned 0.05% of Safety Insurance Group at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Signaturefd LLC boosted its holdings in Safety Insurance Group by 94.9% during the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock worth $25,000 after buying an additional 150 shares in the last quarter. Sterling Capital Management LLC raised its stake in Safety Insurance Group by 823.5% in 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. KBC Group NV lifted its stake in shares of Safety Insurance Group by 52.2% during the fourth quarter. KBC Group NV now owns 1,000 shares of the insurance provider's stock valued at $82,000 after buying an additional 343 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Safety Insurance Group during the fourth quarter worth $181,000. Finally, Parvin Asset Management LLC acquired a new stake in Safety Insurance Group in the 4th quarter worth about $240,000. 81.04% of the stock is owned by institutional investors and hedge funds.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT traded up $0.17 during midday trading on Thursday, hitting $82.71. 32,933 shares of the company's stock traded hands, compared to its average volume of 54,867. The firm's fifty day moving average price is $78.60 and its two-hundred day moving average price is $79.85. The company has a market cap of $1.23 billion, a PE ratio of 16.38 and a beta of 0.22. Safety Insurance Group, Inc. has a twelve month low of $70.71 and a twelve month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The insurance provider reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.03. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%. The business had revenue of $298.97 million for the quarter.

Safety Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.90 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.60 annualized dividend and a yield of 4.35%. Safety Insurance Group's dividend payout ratio is presently 73.62%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Safety Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

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.