Safety Insurance Group, Inc. $SAFT Stake Lifted by Inspire Investing LLC

Inspire Investing LLC increased its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,883 shares of the insurance provider’s stock after acquiring an additional 501 shares during the period. Inspire Investing LLC’s holdings in Safety Insurance Group were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Safety Insurance Group by 41.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 217,000 shares of the insurance provider’s stock valued at $17,117,000 after acquiring an additional 64,000 shares in the last quarter. CW Advisors LLC bought a new position in shares of Safety Insurance Group in the first quarter valued at approximately $7,230,000. Millennium Management LLC boosted 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 acquiring an additional 63,480 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Safety Insurance Group by 2.7% in the first quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider’s stock valued at $5,827,000 after acquiring an additional 1,926 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Safety Insurance Group by 2.8% in the first quarter. American Century Companies Inc. now owns 69,389 shares of the insurance provider’s stock valued at $5,473,000 after acquiring an additional 1,914 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors.

Safety Insurance Group Trading Down 0.2%

Shares of NASDAQ:SAFT opened at $70.00 on Thursday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 12.26 and a beta of 0.26. Safety Insurance Group, Inc. has a 1-year low of $68.39 and a 1-year 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 company has a 50 day moving average price of $72.19 and a 200 day moving average price of $75.38.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.15). The business 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 declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.92 dividend. This is a boost from Safety Insurance Group’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, September 2nd. This represents a $3.68 annualized dividend and a dividend yield of 5.3%. Safety Insurance Group’s payout ratio is currently 64.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SAFT. Wall Street Zen cut shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Safety Insurance Group presently has a consensus rating of “Hold”.

Insider Activity at Safety Insurance Group

In other news, Director Dennis J. Langwell purchased 2,000 shares of Safety Insurance Group stock in a transaction that occurred on Friday, September 5th. The stock was acquired at an average price of $72.39 per share, for a total transaction of $144,780.00. Following the transaction, the director owned 8,000 shares in the company, valued at $579,120. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have purchased 4,055 shares of company stock valued at $291,705. 2.00% of the stock is currently owned by corporate insiders.

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.