Odyssean LLC Invests $768,000 in Safety Insurance Group, Inc. $SAFT

Key Points

• Odyssean LLC acquired 10,261 shares of Safety Insurance Group in the second quarter, valued at approximately $768,000. Institutional investors collectively own 81.04% of the company, with BlackRock also establishing a sizable new position.
• Safety Insurance Group reported quarterly EPS of $2.03, narrowly exceeding analyst expectations, on revenue of $325.68 million. Analysts currently hold a “Moderate Buy” consensus rating.
• The company declared a quarterly dividend of $0.92 per share, equal to $3.68 annually and a 3.6% yield, while a major shareholder sold 1.24 million shares worth approximately $127.8 million.

Odyssean LLC acquired a new position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,261 shares of the insurance provider's stock, valued at approximately $768,000. Odyssean LLC owned about 0.07% of Safety Insurance Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Safety Insurance Group during the 2nd quarter valued at $171,385,000. Goldman Sachs Group Inc. raised its holdings in shares of Safety Insurance Group by 353.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 306,554 shares of the insurance provider's stock worth $23,884,000 after acquiring an additional 238,946 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Safety Insurance Group in the second quarter valued at $10,513,000. AQR Capital Management LLC lifted its position in shares of Safety Insurance Group by 62.6% in the fourth quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider's stock valued at $23,741,000 after acquiring an additional 117,261 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Safety Insurance Group by 224.8% in the third quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider's stock valued at $9,879,000 after acquiring an additional 96,728 shares in the last quarter. Hedge funds and other institutional investors own 81.04% of the company's stock.

Insider Activity

In other news, major shareholder Corp Srb sold 1,240,352 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $103.07, for a total transaction of $127,843,080.64. Following the completion of the sale, the insider directly owned 473,387 shares of the company's stock, valued at $48,791,998.09. The trade was a 72.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 1,316,109 shares of company stock worth $134,654,987. 2.20% of the stock is owned by insiders.

Safety Insurance Group Trading Down 0.0%

Shares of SAFT stock opened at $103.64 on Thursday. The firm's 50-day simple moving average is $88.35 and its 200-day simple moving average is $79.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.41 and a quick ratio of 0.41. Safety Insurance Group, Inc. has a 1-year low of $67.04 and a 1-year high of $103.76. The firm has a market cap of $1.52 billion, a P/E ratio of 22.34 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its earnings results on Wednesday, August 5th. The insurance provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.03. Safety Insurance Group had a net margin of 5.33% and a return on equity of 7.23%. The firm had revenue of $325.68 million during the quarter, compared to the consensus estimate of $325.68 million. As a group, equities analysts forecast that Safety Insurance Group, Inc. will post 4.75 EPS for the current year.

Safety Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 1st. Safety Insurance Group's dividend payout ratio (DPR) is 79.31%.

Wall Street Analyst Weigh In

A number of research firms recently commented on SAFT. Wall Street Zen upgraded Safety Insurance Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Weiss Ratings upgraded shares of Safety Insurance Group from a "hold (c+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Zacks Research raised shares of Safety Insurance Group to a "hold" rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Safety Insurance Group presently has an average rating of "Moderate Buy".

Safety Insurance Group Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.

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