Everence Capital Management Inc. Makes New Investment in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Everence Capital Management Inc. acquired a new position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,260 shares of the insurance provider’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in shares of Safety Insurance Group by 458.9% in the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 257 shares during the period. SG Americas Securities LLC bought a new stake in shares of Safety Insurance Group in the first quarter valued at about $152,000. Mutual of America Capital Management LLC bought a new stake in shares of Safety Insurance Group in the first quarter valued at about $210,000. ProShare Advisors LLC boosted its position in shares of Safety Insurance Group by 7.3% in the first quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after acquiring an additional 198 shares during the period. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Safety Insurance Group in the first quarter valued at about $288,000. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Stock Down 2.2 %

SAFT stock opened at $80.12 on Wednesday. The company has a market cap of $1.19 billion, a PE ratio of 23.22 and a beta of 0.16. The business has a 50-day simple moving average of $82.84 and a 200 day simple moving average of $80.46. Safety Insurance Group, Inc. has a 52 week low of $71.99 and a 52 week high of $89.46.

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

Safety Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Tuesday, September 3rd. Safety Insurance Group’s dividend payout ratio (DPR) is presently 104.35%.

Analyst Upgrades and Downgrades

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

Insider Activity at Safety Insurance Group

In related news, VP Glenn Hiltpold sold 389 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.41, for a total value of $32,835.49. Following the completion of the transaction, the vice president now owns 11,204 shares of the company’s stock, valued at $945,729.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 915 shares of company stock valued at $75,125 over the last quarter. 2.00% of the stock is owned by corporate insiders.

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.