TimesSquare Capital Management LLC Sells 27,654 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

TimesSquare Capital Management LLC lessened its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 574,795 shares of the insurance provider's stock after selling 27,654 shares during the quarter. TimesSquare Capital Management LLC owned 3.86% of Safety Insurance Group worth $45,340,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Safety Insurance Group by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider's stock valued at $19,740,000 after purchasing an additional 6,542 shares during the period. Raymond James Financial Inc. bought a new stake in Safety Insurance Group during the fourth quarter valued at about $1,200,000. Amundi grew its holdings in Safety Insurance Group by 189.5% during the fourth quarter. Amundi now owns 7,170 shares of the insurance provider's stock valued at $576,000 after purchasing an additional 4,693 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Safety Insurance Group during the fourth quarter valued at about $607,000. Finally, Signaturefd LLC grew its holdings in Safety Insurance Group by 94.9% during the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 81.04% of the company's stock.

Analyst Upgrades and Downgrades

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

Safety Insurance Group Price Performance

Shares of NASDAQ SAFT traded up $0.74 during mid-day trading on Wednesday, reaching $72.47. The company's stock had a trading volume of 68,200 shares, compared to its average volume of 59,420. The firm has a market capitalization of $1.08 billion, a PE ratio of 14.82 and a beta of 0.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a fifty day moving average of $79.09 and a two-hundred day moving average of $78.35. Safety Insurance Group, Inc. has a 52 week low of $70.71 and a 52 week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.03. The firm had revenue of $298.97 million during the quarter. Safety Insurance Group had a return on equity of 7.99% and a net margin of 6.29%.

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Monday, June 2nd. Safety Insurance Group's payout ratio is presently 73.62%.

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.