Tudor Investment Corp ET AL Raises Holdings in Safety Insurance Group, Inc. $SAFT

Key Points

• Tudor Investment Corp ET AL boosted its stake in Safety Insurance Group by 285.7% in Q3, raising holdings to 28,204 shares worth about $1.99 million (roughly 0.19% of the company).
• Several other institutions (including Millennium, Two Sigma, Qube and Adage) also meaningfully increased positions in Q3, leaving 81.04% institutional ownership of the stock.
• Safety Insurance beat Q earnings expectations (EPS $1.51 vs. $1.28), pays a quarterly dividend of $0.92 (annualized $3.68) for a 4.9% yield

Tudor Investment Corp ET AL grew its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 285.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,204 shares of the insurance provider's stock after buying an additional 20,892 shares during the period. Tudor Investment Corp ET AL owned 0.19% of Safety Insurance Group worth $1,994,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its position in shares of Safety Insurance Group by 10.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 238,600 shares of the insurance provider's stock valued at $18,942,000 after buying an additional 21,600 shares during the last quarter. Millennium Management LLC lifted its position in shares of Safety Insurance Group by 224.8% during the 3rd quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider's stock valued at $9,879,000 after buying an additional 96,728 shares during the last quarter. Invesco Ltd. lifted its position in shares of Safety Insurance Group by 0.3% during the 3rd quarter. Invesco Ltd. now owns 126,054 shares of the insurance provider's stock valued at $8,911,000 after buying an additional 373 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Safety Insurance Group by 175.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 116,269 shares of the insurance provider's stock valued at $8,219,000 after buying an additional 74,059 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Safety Insurance Group by 388.0% during the 3rd quarter. Two Sigma Investments LP now owns 86,026 shares of the insurance provider's stock valued at $6,081,000 after buying an additional 68,399 shares during the last quarter. Hedge funds and other institutional investors own 81.04% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on SAFT shares. Wall Street Zen raised Safety Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

Safety Insurance Group Stock Performance

NASDAQ:SAFT opened at $74.76 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. Safety Insurance Group, Inc. has a 52-week low of $67.04 and a 52-week high of $84.20. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 11.16 and a beta of 0.22. The business's fifty day moving average is $75.70 and its 200 day moving average is $74.89.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.23. Safety Insurance Group had a return on equity of 9.64% and a net margin of 7.85%.The company had revenue of $319.34 million for the quarter.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Monday, March 2nd. Safety Insurance Group's dividend payout ratio is currently 54.93%.

Insiders Place Their Bets

In other Safety Insurance Group news, major shareholder Corp Srb sold 14,151 shares of the company's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $71.12, for a total value of $1,006,419.12. Following the transaction, the insider directly owned 1,794,655 shares in the company, valued at $127,635,863.60. This represents a 0.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 36,304 shares of company stock valued at $2,728,283. 2.00% of the stock is owned by corporate insiders.

Safety Insurance Group Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.

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