Great Lakes Advisors LLC Takes $968,000 Position in Safety Insurance Group, Inc. $SAFT

Key Points

• Great Lakes Advisors purchased 12,935 shares of Safety Insurance Group in the second quarter, establishing a position valued at approximately $968,000. Institutional investors collectively own 81.04% of the company.
• Analyst sentiment improved, with ratings upgrades from Zacks Research, Wall Street Zen, and Weiss Ratings; the stock now carries a consensus “Moderate Buy” rating.
• Safety Insurance Group reported quarterly EPS of $2.03, slightly exceeding expectations, and declared a $0.92 quarterly dividend, equating to a 3.6% annualized yield. However, a major shareholder sold 1.24 million shares worth approximately $127.8 million.

Great Lakes Advisors LLC purchased a new stake in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 12,935 shares of the insurance provider's stock, valued at approximately $968,000. Great Lakes Advisors LLC owned approximately 0.09% of Safety Insurance Group at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SAFT. XTX Topco Ltd lifted its holdings in Safety Insurance Group by 2.8% during the 4th quarter. XTX Topco Ltd now owns 4,745 shares of the insurance provider's stock worth $370,000 after buying an additional 127 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Safety Insurance Group by 0.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,753 shares of the insurance provider's stock valued at $1,851,000 after buying an additional 152 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Safety Insurance Group by 62.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider's stock valued at $32,000 after buying an additional 160 shares during the period. Allworth Financial LP increased its stake in shares of Safety Insurance Group by 74.8% in the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider's stock valued at $30,000 after buying an additional 166 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Safety Insurance Group by 1.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 14,018 shares of the insurance provider's stock worth $1,112,000 after acquiring an additional 169 shares during the last quarter. Institutional investors own 81.04% of the company's stock.

Analyst Ratings Changes

SAFT has been the topic of several research reports. Zacks Research raised Safety Insurance Group to a "hold" rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded Safety Insurance Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Finally, Weiss Ratings raised Safety Insurance Group from a "hold (c+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy".

Insider Activity

In related news, major shareholder Corp Srb sold 1,240,352 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $103.07, for a total transaction of $127,843,080.64. Following the completion of the sale, the insider directly owned 473,387 shares of the company's stock, valued at approximately $48,791,998.09. This represents a 72.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 1,316,109 shares of company stock valued at $134,654,987. 2.20% of the stock is currently owned by insiders.

Safety Insurance Group Stock Performance

Shares of Safety Insurance Group stock opened at $103.59 on Friday. The stock's fifty day simple moving average is $86.40 and its 200 day simple moving average is $78.56. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.52 billion, a PE ratio of 22.33 and a beta of 0.17. Safety Insurance Group, Inc. has a 12 month low of $67.04 and a 12 month high of $103.75.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.03. Safety Insurance Group had a return on equity of 7.23% and a net margin of 5.33%.The firm had revenue of $325.68 million during the quarter, compared to analysts' expectations of $325.68 million. On average, research analysts predict that Safety Insurance Group, Inc. will post 4.75 EPS for the current year.

Safety Insurance Group Dividend Announcement

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

About Safety Insurance Group

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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