TimesSquare Capital Management LLC Reduces Holdings in Safety Insurance Group, Inc. $SAFT

TimesSquare Capital Management LLC lowered its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 45.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 271,930 shares of the insurance provider’s stock after selling 228,342 shares during the period. TimesSquare Capital Management LLC owned approximately 1.83% of Safety Insurance Group worth $21,186,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Amalgamated Bank raised its stake in shares of Safety Insurance Group by 3.5% during the third quarter. Amalgamated Bank now owns 4,377 shares of the insurance provider’s stock valued at $309,000 after purchasing an additional 150 shares during the period. Allworth Financial LP raised its stake in shares of Safety Insurance Group by 74.8% during the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 166 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Safety Insurance Group by 1.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 14,018 shares of the insurance provider’s stock valued at $1,112,000 after purchasing an additional 169 shares during the period. SG Americas Securities LLC raised its stake in shares of Safety Insurance Group by 2.2% during the fourth quarter. SG Americas Securities LLC now owns 8,748 shares of the insurance provider’s stock valued at $682,000 after purchasing an additional 185 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Safety Insurance Group by 7.0% during the third quarter. Handelsbanken Fonder AB now owns 4,558 shares of the insurance provider’s stock valued at $322,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SAFT. Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Safety Insurance Group from a “hold” rating to a “sell” rating in a research note on Sunday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Safety Insurance Group Stock Up 0.3%

Shares of NASDAQ:SAFT opened at $72.73 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $73.59 and a 200 day simple moving average of $75.66. The firm has a market cap of $1.07 billion, a PE ratio of 17.19 and a beta of 0.24. Safety Insurance Group, Inc. has a 12-month low of $67.04 and a 12-month high of $84.20.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). The company had revenue of $314.67 million during the quarter, compared to the consensus estimate of $315.01 million. Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%.

Safety Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, June 1st. Safety Insurance Group’s payout ratio is 87.00%.

Insider Activity

In related news, major shareholder Corp Srb sold 14,151 shares of Safety Insurance Group stock in a transaction on Friday, March 20th. The shares were sold at an average price of $71.12, for a total value of $1,006,419.12. Following the completion of the sale, the insider owned 1,794,655 shares in the company, valued at approximately $127,635,863.60. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 36,304 shares of company stock valued at $2,728,283 in the last three months. 2.20% of the stock is currently owned by insiders.

Safety Insurance Group 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.