GAMMA Investing LLC Raises Stake in Safety Insurance Group, Inc. (NASDAQ:SAFT)

GAMMA Investing LLC increased its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 13,144.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,972 shares of the insurance provider's stock after acquiring an additional 63,489 shares during the period. GAMMA Investing LLC owned about 0.43% of Safety Insurance Group worth $5,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Signaturefd LLC boosted its position in Safety Insurance Group by 94.9% in the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock worth $25,000 after purchasing an additional 150 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Safety Insurance Group in the 4th quarter worth about $34,000. Sterling Capital Management LLC boosted its holdings in shares of Safety Insurance Group by 823.5% in the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock worth $39,000 after buying an additional 420 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Safety Insurance Group during the fourth quarter worth about $181,000. Finally, Parvin Asset Management LLC bought a new stake in Safety Insurance Group in the fourth quarter worth about $240,000. 81.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Safety Insurance Group Stock Performance

NASDAQ SAFT traded down $0.35 on Thursday, hitting $79.25. 12,423 shares of the stock traded hands, compared to its average volume of 55,154. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 15.69 and a beta of 0.27. The business's fifty day moving average is $78.87 and its two-hundred day moving average is $79.57. Safety Insurance Group, Inc. has a 12 month low of $70.71 and a 12 month high of $90.00.

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

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a $0.90 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 4.54%. Safety Insurance Group's dividend payout ratio is 73.62%.

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.