Safety Insurance Group Inc. (SAFT) Shares Bought by PineBridge Investments L.P.
PineBridge Investments L.P. boosted its position in shares of Safety Insurance Group Inc. (NASDAQ:SAFT) by 6.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,788 shares of the company’s stock after buying an additional 107 shares during the period. PineBridge Investments L.P.’s holdings in Safety Insurance Group were worth $110,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Aperio Group LLC boosted its position in Safety Insurance Group by 4.6% in the first quarter. Aperio Group LLC now owns 11,672 shares of the company’s stock worth $666,000 after buying an additional 508 shares during the period. Prudential Financial Inc. boosted its position in Safety Insurance Group by 9.7% in the first quarter. Prudential Financial Inc. now owns 36,111 shares of the company’s stock worth $2,061,000 after buying an additional 3,187 shares during the period. BlackRock Group LTD boosted its position in Safety Insurance Group by 5.9% in the first quarter. BlackRock Group LTD now owns 21,748 shares of the company’s stock worth $1,241,000 after buying an additional 1,206 shares during the period. BlackRock Fund Advisors raised its stake in Safety Insurance Group by 0.8% in the first quarter. BlackRock Fund Advisors now owns 903,047 shares of the company’s stock worth $51,528,000 after buying an additional 6,781 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Safety Insurance Group by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 404,373 shares of the company’s stock worth $23,074,000 after buying an additional 2,958 shares in the last quarter. 79.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Safety Insurance Group Inc. (NASDAQ:SAFT) opened at 66.76 on Thursday. Safety Insurance Group Inc. has a 12-month low of $50.88 and a 12-month high of $68.69. The company has a 50 day moving average of $66.71 and a 200-day moving average of $61.71. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 17.81 and a beta of 0.76.
Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Wednesday, August 3rd. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.27. Safety Insurance Group had a net margin of 6.99% and a return on equity of 8.62%. Analysts predict that Safety Insurance Group Inc. will post $4.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Tuesday, August 30th. Safety Insurance Group’s payout ratio is presently 74.87%.
Separately, Compass Point upped their target price on shares of Safety Insurance Group from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 5th.
In other Safety Insurance Group news, Director David F. Brussard sold 20,000 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $66.66, for a total value of $1,333,200.00. Following the transaction, the director now owns 52,069 shares in the company, valued at $3,470,919.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is currently owned by corporate insiders.
About Safety Insurance Group
Safety Insurance Group, Inc is a provider of personal lines property and casualty insurance focuses primarily on the Massachusetts market. The Company provides private passenger automobile insurance. In addition to private passenger automobile insurance, it offers a portfolio of property and casualty insurance products, including commercial automobile, homeowners, dwelling fire, umbrella and business owner policies.
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