Public Sector Pension Investment Board Raises Stock Position in Safety Insurance Group, Inc. $SAFT

Public Sector Pension Investment Board grew its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,098 shares of the insurance provider’s stock after acquiring an additional 7,326 shares during the period. Public Sector Pension Investment Board’s holdings in Safety Insurance Group were worth $4,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SAFT. 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 purchasing an additional 125,398 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Safety Insurance Group by 10.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 238,600 shares of the insurance provider’s stock worth $18,942,000 after purchasing an additional 21,600 shares during the period. Bank of New York Mellon Corp boosted its stake in Safety Insurance Group by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 209,828 shares of the insurance provider’s stock worth $16,658,000 after purchasing an additional 1,172 shares during the period. Invesco Ltd. grew its holdings in Safety Insurance Group by 40.8% during the 2nd quarter. Invesco Ltd. now owns 125,681 shares of the insurance provider’s stock valued at $9,978,000 after buying an additional 36,409 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Safety Insurance Group by 284.9% during the first quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock valued at $6,765,000 after buying an additional 63,480 shares during the last quarter. Institutional investors own 81.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Safety Insurance Group Stock Performance

NASDAQ:SAFT opened at $78.42 on Friday. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 13.31 and a beta of 0.22. Safety Insurance Group, Inc. has a 1 year low of $67.04 and a 1 year high of $84.20. The stock’s 50 day simple moving average is $77.83 and its two-hundred day simple moving average is $74.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.41 and a quick ratio of 0.41.

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, March 2nd. Safety Insurance Group’s payout ratio is currently 62.48%.

Safety Insurance Group Company 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.