Goldman Sachs Group Inc. Has $5.22 Million Stock Position in Safety Insurance Group, Inc. $SAFT

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Safety Insurance Group by 28.3%, owning 66,149 shares valued at approximately $5.2 million as of the latest SEC filing.
• Safety Insurance Group announced a quarterly dividend of $0.92, increasing from the previous $0.90, representing an annual yield of 5.1%.
• The company's stock is presently trading at $71.53, with a 52-week range from $68.76 to $90.00.

Goldman Sachs Group Inc. lessened its position in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 28.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 66,149 shares of the insurance provider's stock after selling 26,123 shares during the period. Goldman Sachs Group Inc. owned approximately 0.44% of Safety Insurance Group worth $5,218,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SAFT. Bank of America Corp DE lifted its stake in shares of Safety Insurance Group by 12.2% in the 4th quarter. Bank of America Corp DE now owns 17,790 shares of the insurance provider's stock worth $1,466,000 after acquiring an additional 1,930 shares during the period. Deutsche Bank AG boosted its holdings in Safety Insurance Group by 58.9% during the fourth quarter. Deutsche Bank AG now owns 14,027 shares of the insurance provider's stock worth $1,156,000 after buying an additional 5,202 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Safety Insurance Group during the fourth quarter worth about $655,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Safety Insurance Group by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,345 shares of the insurance provider's stock worth $688,000 after buying an additional 318 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Safety Insurance Group by 144.1% during the fourth quarter. Millennium Management LLC now owns 22,281 shares of the insurance provider's stock worth $1,836,000 after buying an additional 13,152 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company's stock.

Safety Insurance Group Stock Down 1.4%

SAFT traded down $1.00 during trading on Friday, hitting $71.59. The company had a trading volume of 180,463 shares, compared to its average volume of 87,851. The company has a market cap of $1.07 billion, a PE ratio of 12.54 and a beta of 0.28. Safety Insurance Group, Inc. has a 1-year low of $68.76 and a 1-year high of $90.00. The business has a 50-day moving average of $72.46 and a 200-day moving average of $76.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.42 and a quick ratio of 0.42.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.60 by ($0.15). The firm had revenue of $345.83 million during the quarter. Safety Insurance Group had a return on equity of 8.34% and a net margin of 7.07%.

Safety Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Tuesday, September 2nd. This is an increase from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's payout ratio is presently 64.45%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Insider Buying and Selling

In other news, Director Dennis J. Langwell acquired 2,000 shares of Safety Insurance Group stock in a transaction on Friday, September 5th. The stock was bought at an average cost of $72.39 per share, with a total value of $144,780.00. Following the completion of the purchase, the director owned 8,000 shares of the company's stock, valued at $579,120. This represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought 4,055 shares of company stock worth $291,705 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

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.