The Manufacturers Life Insurance Company Increases Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

The Manufacturers Life Insurance Company grew its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,386 shares of the insurance provider’s stock after purchasing an additional 420 shares during the period. The Manufacturers Life Insurance Company’s holdings in Safety Insurance Group were worth $554,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. raised its stake in Safety Insurance Group by 113.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 54,929 shares of the insurance provider’s stock valued at $4,515,000 after buying an additional 29,167 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Safety Insurance Group by 101.7% in the 1st quarter. TimesSquare Capital Management LLC now owns 405,118 shares of the insurance provider’s stock worth $33,297,000 after purchasing an additional 204,218 shares during the last quarter. Vanguard Group Inc. boosted its stake in Safety Insurance Group by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,695,813 shares of the insurance provider’s stock worth $139,379,000 after purchasing an additional 54,441 shares in the last quarter. Bessemer Group Inc. grew its position in Safety Insurance Group by 458.9% during the 1st quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 257 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Safety Insurance Group by 2.6% during the 1st 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 in the last quarter. 81.04% of the stock is owned by institutional investors.

Insider Activity at Safety Insurance Group

In other Safety Insurance Group news, VP Glenn Hiltpold sold 389 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.41, for a total transaction of $32,835.49. Following the completion of the sale, the vice president now directly owns 11,204 shares in the company, valued at approximately $945,729.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 915 shares of company stock worth $75,125 over the last quarter. Company insiders own 2.00% of the company’s stock.

Safety Insurance Group Trading Up 0.7 %

Safety Insurance Group stock opened at $81.27 on Wednesday. Safety Insurance Group, Inc. has a 12 month low of $70.53 and a 12 month high of $89.46. The stock has a fifty day simple moving average of $82.50 and a two-hundred day simple moving average of $80.36. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 23.42 and a beta of 0.16.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.12). The business had revenue of $269.78 million during the quarter. Safety Insurance Group had a return on equity of 5.53% and a net margin of 4.96%.

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.60 annualized dividend and a dividend yield of 4.43%. Safety Insurance Group’s payout ratio is 103.75%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

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.