Dynamic Technology Lab Private Ltd Takes Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Dynamic Technology Lab Private Ltd purchased a new position in Safety Insurance Group, Inc. (NASDAQ:SAFT) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 2,605 shares of the insurance provider’s stock, valued at approximately $213,000.

A number of other hedge funds have also recently made changes to their positions in SAFT. Price T Rowe Associates Inc. MD grew its stake in Safety Insurance Group by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,192 shares of the insurance provider’s stock valued at $1,660,000 after purchasing an additional 509 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Safety Insurance Group by 88.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 8,712 shares of the insurance provider’s stock worth $716,000 after buying an additional 4,097 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Safety Insurance Group by 1.8% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 16,892 shares of the insurance provider’s stock worth $1,267,000 after acquiring an additional 293 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Safety Insurance Group by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the insurance provider’s stock valued at $563,000 after acquiring an additional 200 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. lifted its position in Safety Insurance Group by 15.0% during the second quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 11,500 shares of the insurance provider’s stock valued at $863,000 after acquiring an additional 1,500 shares during the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Safety Insurance Group Stock Performance

Shares of NASDAQ SAFT opened at $85.54 on Tuesday. Safety Insurance Group, Inc. has a fifty-two week low of $71.99 and a fifty-two week high of $90.00. The company has a market cap of $1.27 billion, a PE ratio of 16.94 and a beta of 0.17. The business has a 50-day simple moving average of $82.55 and a two-hundred day simple moving average of $81.10.

Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Tuesday, November 5th. The insurance provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.30). Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The company had revenue of $295.28 million during the quarter.

Safety Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, December 2nd. Safety Insurance Group’s payout ratio is 71.29%.

Insider Buying and Selling

In related news, VP Glenn Hiltpold sold 389 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.41, for a total value of $32,835.49. Following the transaction, the vice president now owns 11,204 shares in the company, valued at approximately $945,729.64. This represents a 3.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by company 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.