Naples Global Advisors LLC increased its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,678 shares of the insurance provider’s stock after buying an additional 445 shares during the period. Naples Global Advisors LLC owned approximately 0.09% of Safety Insurance Group worth $934,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of SAFT. State of Alaska Department of Revenue raised its stake in shares of Safety Insurance Group by 76.6% in the first quarter. State of Alaska Department of Revenue now owns 2,720 shares of the insurance provider’s stock worth $190,000 after buying an additional 1,180 shares in the last quarter. TFS Capital LLC acquired a new stake in Safety Insurance Group during the first quarter valued at approximately $200,000. Mason Street Advisors LLC raised its stake in Safety Insurance Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,330 shares of the insurance provider’s stock valued at $233,000 after buying an additional 218 shares in the last quarter. US Bancorp DE raised its stake in Safety Insurance Group by 2.2% in the first quarter. US Bancorp DE now owns 4,694 shares of the insurance provider’s stock valued at $329,000 after buying an additional 100 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Safety Insurance Group by 58.0% in the first quarter. SG Americas Securities LLC now owns 4,708 shares of the insurance provider’s stock valued at $330,000 after buying an additional 1,728 shares in the last quarter. 79.47% of the stock is owned by institutional investors.
Safety Insurance Group, Inc. (SAFT) traded up 0.07% during mid-day trading on Tuesday, reaching $71.65. 30,329 shares of the company traded hands. The stock’s 50-day moving average price is $69.48 and its 200-day moving average price is $69.95. Safety Insurance Group, Inc. has a one year low of $63.80 and a one year high of $75.05. The firm has a market cap of $1.09 billion, a PE ratio of 17.06 and a beta of 0.77.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.80 per share. This is a boost from Safety Insurance Group’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 4.47%. Safety Insurance Group’s payout ratio is currently 66.67%.
Separately, BidaskClub raised shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th.
About Safety Insurance Group
Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.
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