Jacobs Levy Equity Management Inc. Increases Holdings in Safety Insurance Group, Inc. $SAFT

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Safety Insurance Group by 32.9%, owning 68,141 shares worth approximately $5.4 million after acquiring an additional 16,865 shares in Q1.
• Safety Insurance Group declared a quarterly dividend increase to $0.92 per share, reflecting a 4.9% yield, with the payout scheduled for September 15.
• The company's recent earnings report showed a missed consensus estimate, with earnings per share at $1.45 compared to the projected $1.60.

Jacobs Levy Equity Management Inc. grew its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 32.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,141 shares of the insurance provider's stock after acquiring an additional 16,865 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.46% of Safety Insurance Group worth $5,375,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Safety Insurance Group during the 4th quarter worth about $34,000. Parallel Advisors LLC boosted its position in Safety Insurance Group by 169.9% during the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock worth $35,000 after acquiring an additional 282 shares during the last quarter. GAMMA Investing LLC grew its stake in Safety Insurance Group by 67.9% in the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock worth $64,000 after acquiring an additional 328 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Safety Insurance Group in the 4th quarter worth approximately $181,000. Finally, Two Sigma Advisers LP acquired a new position in Safety Insurance Group in the 4th quarter valued at $305,000. Institutional investors and hedge funds own 81.04% of the company's stock.

Analysts Set New Price Targets

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

Safety Insurance Group Trading Down 1.4%

Shares of NASDAQ SAFT traded down $1.02 during trading on Friday, hitting $73.94. 47,224 shares of the company traded hands, compared to its average volume of 93,320. The firm has a market capitalization of $1.10 billion, a P/E ratio of 12.95 and a beta of 0.28. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $72.63 and a 200-day moving average price of $76.38. Safety Insurance Group, Inc. has a 1 year low of $68.76 and a 1 year high of $90.00.

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

Safety Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.68 annualized dividend and a dividend yield of 5.0%. This is an increase from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's dividend payout ratio is presently 64.45%.

Insider Activity

In other Safety Insurance Group news, Director Dennis J. Langwell bought 2,000 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average price of $72.39 per share, with a total value of $144,780.00. Following the transaction, the director owned 8,000 shares in the company, valued at $579,120. This trade represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company's stock.

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.