Safety Insurance Group, Inc. $SAFT Shares Sold by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC reduced its stake in Safety Insurance Group by 29.8%, selling 4,094 shares and now holding 9,622 shares valued at $759,000 as of their latest SEC filing.
• Safety Insurance Group announced a quarterly dividend increase to $0.92 per share, with the ex-dividend date set for September 2, reflecting a yield of 5.0%.
• Analysts at Wall Street Zen downgraded Safety Insurance Group from a "buy" rating to a "hold" rating as of August 9, indicating a shift in market sentiment.

Integrated Wealth Concepts LLC cut its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 29.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,622 shares of the insurance provider's stock after selling 4,094 shares during the period. Integrated Wealth Concepts LLC owned 0.06% of Safety Insurance Group worth $759,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. increased its position in Safety Insurance Group by 41.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 217,000 shares of the insurance provider's stock worth $17,117,000 after buying an additional 64,000 shares during the period. Northern Trust Corp grew its stake in shares of Safety Insurance Group by 6.9% in the fourth 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 in the last quarter. CW Advisors LLC bought a new position in shares of Safety Insurance Group in the first quarter worth $7,230,000. Principal Financial Group Inc. raised its stake in shares of Safety Insurance Group by 2.7% during the first quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider's stock valued at $5,827,000 after purchasing an additional 1,926 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Safety Insurance Group by 2.8% during the first quarter. American Century Companies Inc. now owns 69,389 shares of the insurance provider's stock valued at $5,473,000 after purchasing an additional 1,914 shares in the last quarter. 81.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Dennis J. Langwell bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was acquired at an average price of $72.39 per share, with a total value of $144,780.00. Following the completion of the purchase, the director directly owned 8,000 shares of the company's stock, valued at $579,120. This represents a 33.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Safety Insurance Group Trading Down 1.4%

Shares of SAFT stock opened at $73.94 on Friday. The stock has a 50-day simple moving average of $72.63 and a 200 day simple moving average of $76.38. Safety Insurance Group, Inc. has a fifty-two week low of $68.76 and a fifty-two week high of $90.00. The stock has a market capitalization of $1.10 billion, a P/E ratio of 12.95 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 (NASDAQ:SAFT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share 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 firm had revenue of $345.83 million for the quarter.

Safety Insurance Group Increases Dividend

The company also recently announced 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. This is an increase from Safety Insurance Group's previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Safety Insurance Group's dividend payout ratio (DPR) is 64.45%.

About Safety Insurance Group

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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