GAMMA Investing LLC Grows Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

GAMMA Investing LLC lifted its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 13,144.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,972 shares of the insurance provider's stock after acquiring an additional 63,489 shares during the quarter. GAMMA Investing LLC owned approximately 0.43% of Safety Insurance Group worth $5,046,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Signaturefd LLC increased 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 valued at $25,000 after buying an additional 150 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Safety Insurance Group during the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC increased its holdings in Safety Insurance Group by 823.5% during the fourth quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock valued at $39,000 after buying an additional 420 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Safety Insurance Group during the fourth quarter valued at approximately $181,000. Finally, Parvin Asset Management LLC purchased a new position in Safety Insurance Group during the fourth quarter valued at approximately $240,000. 81.04% of the stock is owned by hedge funds and other institutional investors.

Safety Insurance Group Stock Down 1.8%

SAFT stock traded down $1.42 during trading on Friday, hitting $78.75. 63,984 shares of the company's stock traded hands, compared to its average volume of 55,572. The firm has a market capitalization of $1.17 billion, a P/E ratio of 15.59 and a beta of 0.27. Safety Insurance Group, Inc. has a 1 year low of $70.71 and a 1 year high of $90.00. The business has a fifty day simple moving average of $79.08 and a two-hundred day simple moving average of $79.48.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $298.97 million during the quarter.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.60 annualized dividend and a dividend yield of 4.57%. Safety Insurance Group's payout ratio is currently 73.62%.

Wall Street Analysts Forecast Growth

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

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.