Safety Insurance Group, Inc. $SAFT Shares Bought 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 grew its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 208.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,670 shares of the insurance provider's stock after purchasing an additional 8,568 shares during the quarter. 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 have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Safety Insurance Group in the fourth quarter worth approximately $34,000. Parallel Advisors LLC lifted its stake in Safety Insurance Group by 169.9% in the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock worth $35,000 after acquiring an additional 282 shares during the last quarter. GAMMA Investing LLC lifted its stake in Safety Insurance Group by 67.9% in the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock worth $64,000 after acquiring an additional 328 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Safety Insurance Group in the fourth quarter worth approximately $181,000. Finally, Two Sigma Advisers LP purchased a new position in Safety Insurance Group in the fourth quarter worth approximately $305,000. Institutional investors and hedge funds own 81.04% of the company's stock.

Insider Buying and Selling

In other Safety Insurance Group news, Director Dennis J. Langwell purchased 2,000 shares of Safety Insurance Group stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average price of $72.39 per share, for a total transaction of $144,780.00. Following the transaction, the director directly owned 8,000 shares in the company, valued at $579,120. This trade represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th.

Safety Insurance Group Stock Performance

SAFT stock traded down $1.02 on Friday, hitting $73.94. The company's stock had a trading volume of 47,224 shares, compared to its average volume of 93,320. The firm has a 50 day moving average of $72.63 and a two-hundred day moving average of $76.38. Safety Insurance Group, Inc. has a 1 year low of $68.76 and a 1 year high of $90.00. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 12.95 and a beta of 0.28. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly 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 net margin of 7.07% and a return on equity of 8.34%. The business had revenue of $345.83 million during the quarter.

Safety Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.92 dividend. This is a positive change from Safety Insurance Group's previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 2nd. This represents a $3.68 annualized dividend and a yield of 5.0%. Safety Insurance Group's payout ratio is currently 64.45%.

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.