Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 144.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,281 shares of the insurance provider's stock after buying an additional 13,152 shares during the period. Millennium Management LLC owned approximately 0.15% of Safety Insurance Group worth $1,836,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC grew its position in shares of Safety Insurance Group by 5.8% in the 4th quarter. Barclays PLC now owns 25,851 shares of the insurance provider's stock valued at $2,129,000 after buying an additional 1,421 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of Safety Insurance Group in the 4th quarter valued at $655,000. Deutsche Bank AG grew its position in shares of Safety Insurance Group by 58.9% in the 4th quarter. Deutsche Bank AG now owns 14,027 shares of the insurance provider's stock valued at $1,156,000 after buying an additional 5,202 shares during the last quarter. Northern Trust Corp grew its position in Safety Insurance Group by 6.9% during the 4th quarter. Northern Trust Corp now owns 166,223 shares of the insurance provider's stock worth $13,697,000 after purchasing an additional 10,768 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Safety Insurance Group by 21.4% during the 4th quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider's stock worth $17,498,000 after purchasing an additional 37,495 shares during the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.

Safety Insurance Group Stock Performance

Safety Insurance Group stock traded up $0.41 during midday trading on Friday, hitting $80.03. 36,292 shares of the company's stock were exchanged, compared to its average volume of 55,098. Safety Insurance Group, Inc. has a 12-month low of $70.71 and a 12-month high of $90.00. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 15.85 and a beta of 0.27. The firm's 50 day simple moving average is $78.81 and its 200 day simple moving average is $79.70.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.03. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%. The company had revenue of $298.97 million for the quarter.

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, June 2nd. Safety Insurance Group's payout ratio is currently 73.62%.

Analysts Set New Price Targets

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

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.