Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Bought by AlphaQuest LLC

AlphaQuest LLC increased its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 89.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,751 shares of the insurance provider’s stock after acquiring an additional 4,122 shares during the period. AlphaQuest LLC’s holdings in Safety Insurance Group were worth $721,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Amundi raised its stake in shares of Safety Insurance Group by 189.5% in the fourth quarter. Amundi now owns 7,170 shares of the insurance provider’s stock valued at $576,000 after acquiring an additional 4,693 shares in the last quarter. Inceptionr LLC acquired a new stake in shares of Safety Insurance Group in the fourth quarter valued at $295,000. Raymond James Financial Inc. acquired a new stake in shares of Safety Insurance Group in the fourth quarter valued at $1,200,000. Charles Schwab Investment Management Inc. raised its stake in shares of Safety Insurance Group by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider’s stock valued at $19,740,000 after acquiring an additional 6,542 shares in the last quarter. Finally, Anchor Capital Advisors LLC raised its stake in shares of Safety Insurance Group by 1.6% in the fourth quarter. Anchor Capital Advisors LLC now owns 16,890 shares of the insurance provider’s stock valued at $1,392,000 after acquiring an additional 268 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th.

Safety Insurance Group Price Performance

NASDAQ:SAFT opened at $76.16 on Wednesday. The firm has a market capitalization of $1.13 billion, a PE ratio of 15.08 and a beta of 0.13. The business’s fifty day moving average price is $78.38 and its 200 day moving average price is $81.47. Safety Insurance Group, Inc. has a 12 month low of $73.38 and a 12 month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Tuesday, February 25th. The insurance provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.23). The business had revenue of $286.72 million during the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend is Monday, March 3rd. Safety Insurance Group’s dividend payout ratio (DPR) is presently 75.47%.

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.