Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC increased its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 172.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,080 shares of the insurance provider's stock after purchasing an additional 8,277 shares during the quarter. Legato Capital Management LLC owned approximately 0.09% of Safety Insurance Group worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAFT. GAMMA Investing LLC increased its position in Safety Insurance Group by 13,144.7% during the 1st quarter. GAMMA Investing LLC now owns 63,972 shares of the insurance provider's stock worth $5,046,000 after purchasing an additional 63,489 shares in the last quarter. Norges Bank purchased a new stake in Safety Insurance Group in the 4th quarter valued at about $4,023,000. JPMorgan Chase & Co. grew its holdings in Safety Insurance Group by 21.4% in the 4th quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider's stock valued at $17,498,000 after buying an additional 37,495 shares during the period. Teacher Retirement System of Texas purchased a new stake in Safety Insurance Group in the 4th quarter valued at about $1,215,000. Finally, Raymond James Financial Inc. purchased a new stake in Safety Insurance Group in the 4th quarter valued at about $1,200,000. Hedge funds and other institutional investors own 81.04% of the company's stock.

Analysts Set New Price Targets

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

Safety Insurance Group Trading Up 0.2%

SAFT traded up $0.15 during midday trading on Friday, hitting $70.77. The company's stock had a trading volume of 46,714 shares, compared to its average volume of 93,948. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.05 billion, a P/E ratio of 14.47 and a beta of 0.26. The firm has a 50-day moving average price of $77.77 and a two-hundred day moving average price of $77.81. Safety Insurance Group, Inc. has a 52-week low of $70.51 and a 52-week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.03. The business had revenue of $298.97 million for 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. Stockholders of record on Monday, June 2nd were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend was Monday, June 2nd. Safety Insurance Group's dividend payout ratio is currently 73.62%.

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.