Invesco Ltd. Sells 8,845 Shares of Safety Insurance Group, Inc. $SAFT

Key Points

• Invesco Ltd. has reduced its stake in Safety Insurance Group, now owning approximately 0.60% of the company, valued at $7.04 million after selling 8,845 shares in the first quarter.
• Safety Insurance Group increased its quarterly dividend to $0.92 from $0.90, with an ex-dividend date of September 2nd, representing a 5.0% yield.
• Analysts have downgraded Safety Insurance Group's rating from "buy" to "hold" as of August 9th, following recent earnings that missed consensus estimates.

Invesco Ltd. decreased its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,272 shares of the insurance provider's stock after selling 8,845 shares during the period. Invesco Ltd. owned approximately 0.60% of Safety Insurance Group worth $7,042,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Safety Insurance Group during the 4th quarter worth approximately $34,000. Parallel Advisors LLC grew its position in Safety Insurance Group by 169.9% in the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 282 shares during the last quarter. GAMMA Investing LLC grew its position in Safety Insurance Group by 67.9% in the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock valued at $64,000 after acquiring an additional 328 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Safety Insurance Group in the fourth quarter valued at about $181,000. Finally, Parvin Asset Management LLC bought a new position in Safety Insurance Group in the fourth quarter valued at about $240,000. Institutional investors own 81.04% of the company's stock.

Safety Insurance Group Trading Up 0.4%

SAFT stock traded up $0.32 during trading on Friday, hitting $74.01. The company had a trading volume of 151,313 shares, compared to its average volume of 96,212. The business has a 50-day moving average of $73.63 and a 200-day moving average of $76.71. Safety Insurance Group, Inc. has a one year low of $68.76 and a one year high of $90.00. The stock has a market cap of $1.10 billion, a PE ratio of 12.96 and a beta of 0.26. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.15). The company had revenue of $345.83 million during the quarter. Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%.

Safety Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's dividend payout ratio (DPR) is currently 63.05%.

Insider Activity

In other Safety Insurance Group news, Director Dennis J. Langwell purchased 2,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the acquisition, the director owned 6,000 shares of the company's stock, valued at approximately $428,940. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

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

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.