Deutsche Bank AG Buys Shares of 15,855 Safety Insurance Group, Inc. $SAFT

Key Points

• Deutsche Bank acquired 15,855 shares of Safety Insurance Group worth approximately $1.19 million, joining institutional investors that collectively own 81.04% of the company.
• Analysts have generally improved their outlook, with ratings ranging from Buy to Hold and a consensus “Moderate Buy” recommendation. The company also modestly beat quarterly EPS estimates, reporting $2.03 versus $2.00 expected.
• Safety Insurance declared a quarterly dividend of $0.92 per share, equivalent to an annualized $3.68 dividend and a 3.6% yield. Meanwhile, a major shareholder sold 1.24 million shares, reducing its position by 72.38%.

Deutsche Bank AG purchased a new stake in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,855 shares of the insurance provider's stock, valued at approximately $1,187,000. Deutsche Bank AG owned about 0.11% of Safety Insurance Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Safety Insurance Group by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,661,343 shares of the insurance provider's stock worth $129,435,000 after acquiring an additional 29,511 shares during the period. Dimensional Fund Advisors LP lifted its position in Safety Insurance Group by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 711,806 shares of the insurance provider's stock valued at $51,708,000 after purchasing an additional 3,319 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Safety Insurance Group by 353.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 306,554 shares of the insurance provider's stock valued at $23,884,000 after purchasing an additional 238,946 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Safety Insurance Group by 62.6% in the fourth quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider's stock valued at $23,741,000 after purchasing an additional 117,261 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Safety Insurance Group by 20.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 300,000 shares of the insurance provider's stock worth $23,373,000 after purchasing an additional 51,400 shares during the period. Institutional investors and hedge funds own 81.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Safety Insurance Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Weiss Ratings raised Safety Insurance Group from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Zacks Research raised shares of Safety Insurance Group to a "hold" rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Insider Activity at Safety Insurance Group

In other news, major shareholder Corp Srb sold 1,240,352 shares of the company's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $103.07, for a total value of $127,843,080.64. Following the completion of the transaction, the insider owned 473,387 shares in the company, valued at approximately $48,791,998.09. This represents a 72.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 1,316,109 shares of company stock valued at $134,654,987. Corporate insiders own 2.20% of the company's stock.

Safety Insurance Group Stock Performance

NASDAQ SAFT opened at $103.64 on Monday. The stock has a 50-day moving average of $89.68 and a two-hundred day moving average of $79.41. The company has a market cap of $1.52 billion, a P/E ratio of 22.34 and a beta of 0.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.41 and a quick ratio of 0.41. Safety Insurance Group, Inc. has a 1-year low of $67.04 and a 1-year high of $103.80.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.03. The business had revenue of $325.68 million for the quarter, compared to analysts' expectations of $325.68 million. Safety Insurance Group had a return on equity of 7.23% and a net margin of 5.33%. As a group, analysts anticipate that Safety Insurance Group, Inc. will post 4.75 EPS for the current year.

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.92 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.6%. Safety Insurance Group's dividend payout ratio is presently 79.31%.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.

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