Safety Insurance Group, Inc. $SAFT Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly increased its holdings in Safety Insurance Group by 208.9%, acquiring a total of 12,670 shares valued at approximately $999,000.
• Safety Insurance Group has recently adjusted its dividend, now declaring $0.92 per share, an increase from its previous $0.90, resulting in an annual yield of 5.1%.
• Wall Street Zen has downgraded Safety Insurance Group from a "buy" rating to a "hold rating", reflecting adjustments in market perceptions.

Trexquant Investment LP lifted its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 208.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,670 shares of the insurance provider's stock after acquiring an additional 8,568 shares during the period. Trexquant Investment LP owned 0.09% of Safety Insurance Group worth $999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SAFT. CW Advisors LLC acquired a new stake in shares of Safety Insurance Group during the 1st quarter worth about $7,230,000. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 63,489 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Safety Insurance Group during the 1st quarter worth about $2,931,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Safety Insurance Group during the 1st quarter worth about $1,123,000. Finally, Millennium Management LLC raised its position in shares of Safety Insurance Group by 144.1% during the 4th quarter. Millennium Management LLC now owns 22,281 shares of the insurance provider's stock worth $1,836,000 after acquiring an additional 13,152 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company's stock.

Insider Buying and Selling at Safety Insurance Group

In related news, Director Dennis J. Langwell bought 2,000 shares of the stock in a transaction on Friday, September 5th. The shares were bought at an average cost of $72.39 per share, for a total transaction of $144,780.00. Following the purchase, the director owned 8,000 shares of the company's stock, valued at $579,120. This trade represents a 33.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Safety Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Safety Insurance Group Trading Down 0.7%

NASDAQ:SAFT opened at $72.58 on Friday. The stock's 50 day moving average price is $73.06 and its 200 day moving average price is $76.53. The company has a market capitalization of $1.08 billion, a PE ratio of 12.71 and a beta of 0.28. 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 52-week low of $68.76 and a 52-week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($0.15). The firm had revenue of $345.83 million for the quarter. Safety Insurance Group had a return on equity of 8.34% and a net margin of 7.07%.

Safety Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 dividend on an annualized basis and a yield of 5.1%. This is a boost from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's dividend payout ratio (DPR) is 64.45%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.