Safety Insurance Group, Inc. $SAFT Shares Acquired by Jacobs Levy Equity Management Inc.

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. boosted its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 32.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,141 shares of the insurance provider's stock after buying an additional 16,865 shares during the period. Jacobs Levy Equity Management Inc. owned 0.46% of Safety Insurance Group worth $5,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. grew its position in Safety Insurance Group by 41.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 217,000 shares of the insurance provider's stock worth $17,117,000 after acquiring an additional 64,000 shares during the period. Northern Trust Corp grew its position in Safety Insurance Group by 6.9% in the fourth quarter. Northern Trust Corp now owns 166,223 shares of the insurance provider's stock worth $13,697,000 after acquiring an additional 10,768 shares during the period. CW Advisors LLC purchased a new position in Safety Insurance Group in the first quarter worth approximately $7,230,000. Principal Financial Group Inc. grew its position in Safety Insurance Group by 2.7% in the first quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider's stock worth $5,827,000 after acquiring an additional 1,926 shares during the period. Finally, American Century Companies Inc. grew its position in Safety Insurance Group by 2.8% in the first quarter. American Century Companies Inc. now owns 69,389 shares of the insurance provider's stock worth $5,473,000 after acquiring an additional 1,914 shares during the period. Institutional investors and hedge funds own 81.04% of the company's stock.

Safety Insurance Group Trading Down 1.4%

NASDAQ:SAFT traded down $1.02 during trading hours on Friday, reaching $73.94. 47,224 shares of the stock were exchanged, compared to its average volume of 91,953. 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 business has a 50-day moving average of $72.63 and a two-hundred day moving average of $76.39. Safety Insurance Group, Inc. has a twelve month low of $68.76 and a twelve month high of $90.00. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 12.95 and a beta of 0.28.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.45 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter.

Safety Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 5.0%. This is a positive change from Safety Insurance Group's previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 2nd. Safety Insurance Group's payout ratio is currently 64.45%.

Insider Buying and Selling

In other news, Director Dennis J. Langwell purchased 2,000 shares of the firm's stock in a transaction on Friday, September 5th. The shares were bought at an average cost of $72.39 per share, for a total transaction of $144,780.00. Following the completion of the purchase, the director directly owned 8,000 shares of the company's stock, valued at approximately $579,120. This trade represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.