Vanguard Group Inc. Has $129.26 Million Position in Safety Insurance Group, Inc. $SAFT

Key Points

• Vanguard Group Inc. reduced its stake in Safety Insurance Group by 2.3%, now owning approximately 11.00% of the company, valued at $129.25 million.
• Several other investors increased their stakes in Safety Insurance Group, with Legato Capital Management boosting its stake by 172.3% during the first quarter.
• Safety Insurance Group recently announced a quarterly dividend increase to $0.92, reflecting a yield of 5.0%, with the payout scheduled for September 15th.

Vanguard Group Inc. trimmed its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,638,631 shares of the insurance provider's stock after selling 39,250 shares during the period. Vanguard Group Inc. owned approximately 11.00% of Safety Insurance Group worth $129,255,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SAFT. Wells Fargo & Company MN grew its position in Safety Insurance Group by 21.9% in the fourth quarter. Wells Fargo & Company MN now owns 9,372 shares of the insurance provider's stock worth $772,000 after acquiring an additional 1,685 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Safety Insurance Group in the fourth quarter valued at approximately $1,200,000. Sterling Capital Management LLC boosted its position in Safety Insurance Group by 823.5% during the fourth quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock worth $39,000 after purchasing an additional 420 shares during the period. Barclays PLC raised its stake in Safety Insurance Group by 5.8% in the fourth quarter. Barclays PLC now owns 25,851 shares of the insurance provider's stock valued at $2,129,000 after purchasing an additional 1,421 shares in the last quarter. Finally, Mariner LLC raised its stake in Safety Insurance Group by 6.3% during the fourth quarter. Mariner LLC now owns 7,360 shares of the insurance provider's stock worth $606,000 after acquiring an additional 439 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors.

Safety Insurance Group Stock Down 0.2%

Shares of NASDAQ:SAFT traded down $0.12 on Tuesday, reaching $73.45. The company had a trading volume of 26,879 shares, compared to its average volume of 66,236. 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, Inc. has a 52-week low of $68.76 and a 52-week high of $90.00. The firm has a market capitalization of $1.09 billion, a PE ratio of 12.88 and a beta of 0.26. The firm's 50 day simple moving average is $73.98 and its 200-day simple moving average is $76.82.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its quarterly 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 business had revenue of $345.83 million during the quarter.

Safety Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's payout ratio is 63.05%.

Insider Buying and Selling

In related news, Director Dennis J. Langwell acquired 2,000 shares of the stock in a transaction dated Monday, August 11th. The stock was bought at an average cost of $71.49 per share, with a total value of $142,980.00. Following the purchase, the director directly owned 6,000 shares of the company's stock, valued at approximately $428,940. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

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

Safety Insurance Group Company 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.