32,665 Shares in Safety Insurance Group, Inc. $SAFT Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new position in Safety Insurance Group, Inc. (NASDAQ:SAFT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 32,665 shares of the insurance provider’s stock, valued at approximately $2,445,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of Safety Insurance Group by 74.8% in the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 166 shares during the period. Bayban bought a new stake in Safety Insurance Group during the 4th quarter valued at approximately $31,000. PNC Financial Services Group Inc. lifted its holdings in Safety Insurance Group by 62.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Safety Insurance Group by 653.0% in the 4th quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 431 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Safety Insurance Group by 1,317.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 461 shares during the period. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Stock Performance

NASDAQ:SAFT opened at $103.15 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.41 and a quick ratio of 0.41. Safety Insurance Group, Inc. has a 1 year low of $67.04 and a 1 year high of $103.80. The stock’s 50 day simple moving average is $92.72 and its two-hundred day simple moving average is $80.24. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 22.23 and a beta of 0.16.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.03. Safety Insurance Group had a return on equity of 7.23% and a net margin of 5.33%.The firm had revenue of $325.68 million during the quarter, compared to the consensus estimate of $325.68 million. As a group, equities analysts anticipate that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current fiscal year.

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.68 annualized dividend and a yield of 3.6%. Safety Insurance Group’s dividend payout ratio (DPR) is 79.31%.

Insider Buying and Selling

In other Safety Insurance Group news, major shareholder Corp Srb sold 1,240,352 shares of Safety Insurance Group stock in a transaction on Monday, July 27th. The shares were sold at an average price of $103.07, for a total value of $127,843,080.64. Following the completion of the transaction, the insider directly owned 473,387 shares of the company’s stock, valued at $48,791,998.09. This trade represents a 72.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 1,316,109 shares of company stock worth $134,654,987 in the last three months. 2.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SAFT has been the topic of several recent analyst reports. Weiss Ratings cut shares of Safety Insurance Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Zacks Research upgraded shares of Safety Insurance Group to a “hold” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Safety Insurance Group presently has an average rating of “Moderate Buy”.

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.