Public Sector Pension Investment Board Purchases 10,101 Shares of Safety Insurance Group, Inc. $SAFT

Key Points

• The Public Sector Pension Investment Board increased its stake in Safety Insurance Group by 27.3%, owning 47,099 shares valued at approximately $3.72 million after purchasing an additional 10,101 shares in the first quarter.
• Safety Insurance Group's stock has been downgraded from a "buy" to a "hold" rating by Wall Street Zen as of August 9th.
• The company announced a quarterly dividend increase to $0.92 per share, with the ex-dividend date being September 2nd, resulting in a 5.0% dividend yield.

Public Sector Pension Investment Board raised its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 27.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,099 shares of the insurance provider's stock after buying an additional 10,101 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of Safety Insurance Group worth $3,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in shares of 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 buying an additional 282 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Safety Insurance Group by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,345 shares of the insurance provider's stock worth $688,000 after buying an additional 318 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Safety Insurance Group by 67.9% during the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock worth $64,000 after buying an additional 328 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Safety Insurance Group during the fourth quarter worth about $34,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Safety Insurance Group by 823.5% during the fourth quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock worth $39,000 after buying an additional 420 shares in the last quarter. 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 report on Saturday, August 9th.

Insider Activity at Safety Insurance Group

In other Safety Insurance Group news, Director Dennis J. Langwell bought 2,000 shares of Safety Insurance Group stock in a transaction dated Monday, August 11th. The stock was bought at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the purchase, the director owned 6,000 shares of the company's stock, valued at $428,940. The trade was a 50.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Safety Insurance Group Stock Down 0.1%

SAFT stock opened at $73.32 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.03. Safety Insurance Group, Inc. has a twelve month low of $68.76 and a twelve month high of $90.00. The business has a 50 day moving average price of $74.50 and a two-hundred day moving average price of $76.97. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 12.84 and a beta of 0.26.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 EPS 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 business had revenue of $345.83 million for the quarter.

Safety Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.92 per share. The ex-dividend date 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 63.05%.

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.

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