TimesSquare Capital Management LLC Invests $15.27 Million in Safety Insurance Group, Inc. (NASDAQ:SAFT)

TimesSquare Capital Management LLC bought a new stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 200,900 shares of the insurance provider’s stock, valued at approximately $15,266,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SAFT. Victory Capital Management Inc. raised its position in shares of Safety Insurance Group by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,155,367 shares of the insurance provider’s stock worth $78,784,000 after acquiring an additional 29,996 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Safety Insurance Group by 298.0% in the 3rd quarter. GSA Capital Partners LLP now owns 32,401 shares of the insurance provider’s stock valued at $2,209,000 after buying an additional 24,260 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Safety Insurance Group by 98.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 39,245 shares of the insurance provider’s stock valued at $2,676,000 after buying an additional 19,467 shares during the last quarter. International Assets Investment Management LLC raised its stake in Safety Insurance Group by 7,499.0% during the 4th quarter. International Assets Investment Management LLC now owns 15,198 shares of the insurance provider’s stock worth $1,155,000 after acquiring an additional 14,998 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Safety Insurance Group by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 206,693 shares of the insurance provider’s stock worth $14,094,000 after purchasing an additional 13,430 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, TheStreet upgraded shares of Safety Insurance Group from a “c+” rating to a “b” rating in a research note on Tuesday, February 27th.

Insiders Place Their Bets

In related news, VP Stephen Albert Varga sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $79.35, for a total value of $71,415.00. Following the completion of the transaction, the vice president now directly owns 28,465 shares of the company’s stock, valued at approximately $2,258,697.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

Safety Insurance Group Stock Performance

NASDAQ SAFT traded down $0.31 during trading hours on Friday, hitting $84.04. 548 shares of the stock were exchanged, compared to its average volume of 53,501. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 66.42 and a beta of 0.19. Safety Insurance Group, Inc. has a 12-month low of $65.78 and a 12-month high of $88.72. The stock has a 50-day moving average of $80.19 and a 200 day moving average of $79.42.

Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Tuesday, February 27th. The insurance provider reported $0.30 EPS for the quarter. Safety Insurance Group had a return on equity of 1.56% and a net margin of 2.03%. The company had revenue of $258.40 million during the quarter.

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Monday, June 3rd. Safety Insurance Group’s dividend payout ratio is currently 283.46%.

Safety Insurance Group Company Profile

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.