Integrated Wealth Concepts LLC Sells 4,094 Shares of Safety Insurance Group, Inc. $SAFT

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

Several other institutional investors have also made changes to their positions in SAFT. Northern Trust Corp boosted its holdings in shares of Safety Insurance Group by 6.9% during 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 during the period. Bank of America Corp DE boosted its holdings in shares of Safety Insurance Group by 12.2% during the fourth quarter. Bank of America Corp DE now owns 17,790 shares of the insurance provider's stock worth $1,466,000 after purchasing an additional 1,930 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Safety Insurance Group during the fourth quarter worth approximately $453,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Safety Insurance Group during the fourth quarter worth approximately $181,000. Finally, Deutsche Bank AG boosted its holdings in shares of Safety Insurance Group by 58.9% during the fourth quarter. Deutsche Bank AG now owns 14,027 shares of the insurance provider's stock worth $1,156,000 after purchasing an additional 5,202 shares during the period. 81.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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 Stock Performance

NASDAQ:SAFT traded up $0.87 during trading hours on Thursday, hitting $72.59. 52,617 shares of the company traded hands, compared to its average volume of 88,956. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 12.71 and a beta of 0.28. Safety Insurance Group, Inc. has a twelve month low of $68.76 and a twelve month high of $90.00. The firm has a 50-day moving average of $72.47 and a 200 day moving average of $76.28. 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 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). The company had revenue of $345.83 million for the quarter. Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%.

Safety Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.92 dividend. This is a boost from Safety Insurance Group's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.68 annualized dividend and a yield of 5.1%. Safety Insurance Group's payout ratio is presently 64.45%.

Insider Transactions at Safety Insurance Group

In other news, Director Dennis J. Langwell bought 2,000 shares of the stock in a transaction dated Friday, September 5th. The shares were acquired at an average price of $72.39 per share, with a total value of $144,780.00. Following the acquisition, the director 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have acquired 4,055 shares of company stock valued at $291,705. Insiders own 2.00% of the company's stock.

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.