Safety Insurance Group, Inc. (NASDAQ:SAFT) Director Dennis J. Langwell Buys 2,000 Shares

Key Points

• Director Dennis J. Langwell purchased 2,000 shares of Safety Insurance stock for approximately $142,980, increasing their ownership by 50%.
• Safety Insurance recently raised its quarterly dividend from $0.90 to $0.92 per share, representing an annualized yield of 5.1%.
• The company reported $1.45 EPS for the last quarter, falling short of analysts' estimates of $1.60 EPS.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) Director Dennis J. Langwell purchased 2,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $71.49 per share, for a total transaction of $142,980.00. Following the purchase, the director owned 6,000 shares of the company's stock, valued at approximately $428,940. This trade represents a 50.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Safety Insurance Group Trading Down 1.3%

Shares of Safety Insurance Group stock traded down $0.98 during trading hours on Friday, hitting $73.41. The company's stock had a trading volume of 74,565 shares, compared to its average volume of 86,452. The firm has a fifty day moving average of $74.62 and a 200-day moving average of $77.04. Safety Insurance Group, Inc. has a twelve month low of $68.76 and a twelve month high of $90.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 12.86 and a beta of 0.26.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($0.15). The firm had revenue of $345.83 million for the quarter. Safety Insurance Group had a return on equity of 8.34% and a net margin of 7.07%.

Safety Insurance Group Increases Dividend

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

Institutional Trading of Safety Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Safety Insurance Group by 67.9% during the second quarter. JPMorgan Chase & Co. now owns 310,072 shares of the insurance provider's stock worth $24,617,000 after buying an additional 125,398 shares in the last quarter. CW Advisors LLC bought a new position in Safety Insurance Group during the first quarter valued at about $7,230,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Safety Insurance Group by 41.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 217,000 shares of the insurance provider's stock worth $17,117,000 after acquiring an additional 64,000 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Safety Insurance Group by 13,144.7% in the first quarter. GAMMA Investing LLC now owns 63,972 shares of the insurance provider's stock worth $5,046,000 after buying an additional 63,489 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Safety Insurance Group by 284.9% in the first quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider's stock valued at $6,765,000 after purchasing an additional 63,480 shares in the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About Safety Insurance Group

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.