Safety Insurance Group, Inc. $SAFT Holdings Lifted by Dean Capital Management

Key Points

• Dean Capital Management increased its stake in Safety Insurance Group by 171.9% during Q1, now holding 20,765 shares valued at $1.64 million.
• The company recently announced a quarterly dividend increase to $0.92 per share, with a yield of 5.0%, showing growth in its shareholder returns.
• Wall Street analysts downgraded Safety Insurance Group from a "buy" to a "hold" rating, reflecting caution amid its recent earnings miss against estimates.

Dean Capital Management raised its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 171.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,765 shares of the insurance provider's stock after acquiring an additional 13,128 shares during the period. Dean Capital Management owned approximately 0.14% of Safety Insurance Group worth $1,638,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its position in shares of Safety Insurance Group by 41.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 217,000 shares of the insurance provider's stock worth $17,117,000 after buying an additional 64,000 shares during the period. Northern Trust Corp boosted its holdings in Safety Insurance Group by 6.9% in the fourth quarter. Northern Trust Corp now owns 166,223 shares of the insurance provider's stock valued at $13,697,000 after purchasing an additional 10,768 shares during the last quarter. CW Advisors LLC purchased a new position in Safety Insurance Group in the first quarter valued at about $7,230,000. Millennium Management LLC boosted its holdings in Safety Insurance Group by 284.9% in the first quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider's stock valued at $6,765,000 after purchasing an additional 63,480 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Safety Insurance Group by 2.7% in the first quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider's stock valued at $5,827,000 after purchasing an additional 1,926 shares during the last quarter. Hedge funds and other institutional investors own 81.04% of the company's stock.

Insider Buying and Selling

In other Safety Insurance Group news, Director Dennis J. Langwell bought 2,000 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were purchased at an average cost of $72.39 per share, for a total transaction of $144,780.00. Following the transaction, the director directly owned 8,000 shares in the company, valued at $579,120. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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 Down 1.4%

NASDAQ SAFT traded down $1.02 on Friday, hitting $73.94. 47,224 shares of the stock traded hands, compared to its average volume of 93,320. The stock has a 50-day moving average of $72.63 and a 200 day moving average of $76.38. Safety Insurance Group, Inc. has a twelve month low of $68.76 and a twelve month high of $90.00. The company has a market capitalization of $1.10 billion, a P/E ratio of 12.95 and a beta of 0.28. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03.

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 the consensus estimate of $1.60 by ($0.15). The firm 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 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 $0.92 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.68 annualized dividend and a yield of 5.0%. This is an increase from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's payout ratio is 64.45%.

Safety Insurance Group Company 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.