Bessemer Group Inc. Buys 300 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)
Bessemer Group Inc. increased its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 21,200 shares of the insurance provider’s stock after buying an additional 300 shares during the period. Bessemer Group Inc.’s holdings in Safety Insurance Group were worth $1,448,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in SAFT. Wells Fargo & Company MN boosted its position in shares of Safety Insurance Group by 88.9% in the first quarter. Wells Fargo & Company MN now owns 49,522 shares of the insurance provider’s stock worth $3,471,000 after buying an additional 23,302 shares during the period. Principal Financial Group Inc. boosted its position in Safety Insurance Group by 3.0% in the first quarter. Principal Financial Group Inc. now owns 121,780 shares of the insurance provider’s stock worth $8,537,000 after buying an additional 3,536 shares during the last quarter. Norges Bank acquired a new position in Safety Insurance Group during the fourth quarter worth about $13,843,000. First Manhattan Co. boosted its position in Safety Insurance Group by 3.5% in the first quarter. First Manhattan Co. now owns 19,765 shares of the insurance provider’s stock worth $1,328,000 after buying an additional 675 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in Safety Insurance Group during the first quarter worth about $588,000. Hedge funds and other institutional investors own 79.47% of the company’s stock.
Safety Insurance Group, Inc. (SAFT) opened at 70.70 on Friday. The stock has a market cap of $1.08 billion, a PE ratio of 16.83 and a beta of 0.77. Safety Insurance Group, Inc. has a 12-month low of $65.23 and a 12-month high of $75.05. The company’s 50-day moving average price is $69.90 and its 200-day moving average price is $69.90.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Wednesday, August 30th. This is a boost from Safety Insurance Group’s previous quarterly dividend of $0.70. Safety Insurance Group’s dividend payout ratio (DPR) is currently 66.67%.
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Separately, BidaskClub upgraded Safety Insurance Group from a “sell” rating to a “hold” rating in a report 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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