KLP Kapitalforvaltning AS Buys 5,000 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Key Points

• KLP Kapitalforvaltning AS increased its stake in Safety Insurance Group by 147.1%, owning 8,400 shares valued at approximately $663,000 as reported in their recent SEC filing.
• The company also announced a quarterly dividend of $0.90 per share, representing an annualized dividend yield of 5.10% with a payout ratio of 73.62%.
• Wall Street analysts recently upgraded Safety Insurance Group from a "hold" rating to a "buy" rating, reflecting a positive outlook for the company.

KLP Kapitalforvaltning AS boosted its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 147.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,400 shares of the insurance provider's stock after buying an additional 5,000 shares during the period. KLP Kapitalforvaltning AS owned 0.06% of Safety Insurance Group worth $663,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Safety Insurance Group during the first quarter valued at about $1,123,000. Principal Financial Group Inc. grew its position in shares of Safety Insurance Group by 2.7% during the first quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider's stock valued at $5,827,000 after purchasing an additional 1,926 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Safety Insurance Group by 52.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,137 shares of the insurance provider's stock valued at $1,431,000 after purchasing an additional 6,223 shares in the last quarter. Diversified Trust Co purchased a new position in shares of Safety Insurance Group during the first quarter valued at about $430,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Safety Insurance Group during the first quarter valued at about $927,000. Hedge funds and other institutional investors own 81.04% of the company's stock.

Safety Insurance Group Trading Down 1.5%

SAFT traded down $1.05 on Friday, hitting $69.30. The company had a trading volume of 80,148 shares, compared to its average volume of 78,590. The company has a market cap of $1.03 billion, a PE ratio of 14.17 and a beta of 0.26. Safety Insurance Group, Inc. has a 12-month low of $69.05 and a 12-month high of $90.00. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.04. The business's fifty day simple moving average is $76.52 and its 200 day simple moving average is $77.51.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The insurance provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.25 by $0.03. The company had revenue of $298.97 million during the quarter. Safety Insurance Group had a return on equity of 7.99% and a net margin of 6.29%.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.60 annualized dividend and a yield of 5.2%. Safety Insurance Group's dividend payout ratio (DPR) is presently 73.62%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Safety Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

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.