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

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

Several other hedge funds have also recently bought and sold shares of SAFT. Principal Financial Group Inc. grew its holdings in 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Safety Insurance Group by 52.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,137 shares of the insurance provider's stock worth $1,431,000 after buying an additional 6,223 shares during the period. Diversified Trust Co acquired a new position in Safety Insurance Group in the 1st quarter valued at $430,000. Assenagon Asset Management S.A. bought a new position in Safety Insurance Group in the 1st quarter worth $927,000. Finally, GAMMA Investing LLC raised its holdings in Safety Insurance Group by 67.9% in the 1st 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 period. 81.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Safety Insurance Group Stock Performance

Shares of SAFT traded up $0.35 during mid-day trading on Thursday, hitting $72.82. The company's stock had a trading volume of 61,991 shares, compared to its average volume of 59,388. The stock's 50-day moving average is $79.00 and its two-hundred day moving average is $78.31. The firm has a market capitalization of $1.08 billion, a PE ratio of 14.89 and a beta of 0.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.42 and a current ratio of 0.42. Safety Insurance Group, Inc. has a one year low of $70.71 and a one year high of $90.00.

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

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a $0.90 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.94%. Safety Insurance Group's dividend payout ratio is currently 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.