Raymond James Financial Inc. Takes $1.20 Million Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Raymond James Financial Inc. acquired a new stake in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,562 shares of the insurance provider's stock, valued at approximately $1,200,000. Raymond James Financial Inc. owned about 0.10% of Safety Insurance Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SAFT. Martingale Asset Management L P lifted its holdings in Safety Insurance Group by 1.7% in the fourth quarter. Martingale Asset Management L P now owns 17,992 shares of the insurance provider's stock worth $1,483,000 after acquiring an additional 300 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Safety Insurance Group by 44.4% in the fourth quarter. Bank of Montreal Can now owns 7,138 shares of the insurance provider's stock worth $588,000 after buying an additional 2,196 shares during the last quarter. Wells Fargo & Company MN increased its position in Safety Insurance Group by 21.9% in the 4th quarter. Wells Fargo & Company MN now owns 9,372 shares of the insurance provider's stock worth $772,000 after buying an additional 1,685 shares during the period. ExodusPoint Capital Management LP lifted its position in Safety Insurance Group by 101.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 7,793 shares of the insurance provider's stock worth $642,000 after purchasing an additional 3,916 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Safety Insurance Group during the 4th quarter worth about $338,000. 81.04% of the stock is owned by hedge funds and other institutional investors.

Safety Insurance Group Price Performance

Shares of SAFT traded down $0.20 during trading hours on Friday, hitting $77.85. The stock had a trading volume of 4,299 shares, compared to its average volume of 54,441. The firm has a 50 day simple moving average of $77.09 and a 200-day simple moving average of $79.77. Safety Insurance Group, Inc. has a 1-year low of $70.71 and a 1-year high of $90.00. The firm has a market capitalization of $1.16 billion, a P/E ratio of 15.42 and a beta of 0.22.

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 return on equity of 6.35% and a net margin of 6.86%. The firm had revenue of $298.97 million during the quarter.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Monday, June 2nd. Safety Insurance Group's payout ratio is 75.47%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th.

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.