Legato Capital Management LLC Has $1.37 Million Holdings in Safety Insurance Group, Inc. $SAFT

Legato Capital Management LLC increased its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 338.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,552 shares of the insurance provider’s stock after acquiring an additional 13,549 shares during the quarter. Legato Capital Management LLC’s holdings in Safety Insurance Group were worth $1,367,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Amalgamated Bank raised its stake in Safety Insurance Group by 3.5% during the 3rd quarter. Amalgamated Bank now owns 4,377 shares of the insurance provider’s stock worth $309,000 after buying an additional 150 shares during the period. PNC Financial Services Group Inc. raised its stake in Safety Insurance Group by 62.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after buying an additional 160 shares during the period. Allworth Financial LP raised its stake in Safety Insurance Group by 74.8% during the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after buying an additional 166 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Safety Insurance Group by 1.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 14,018 shares of the insurance provider’s stock worth $1,112,000 after buying an additional 169 shares during the period. Finally, SG Americas Securities LLC raised its stake in Safety Insurance Group by 2.2% during the 4th quarter. SG Americas Securities LLC now owns 8,748 shares of the insurance provider’s stock worth $682,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 81.04% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Safety Insurance Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Safety Insurance Group has an average rating of “Hold”.

Safety Insurance Group Price Performance

SAFT stock opened at $72.72 on Monday. The stock has a 50-day moving average price of $73.63 and a two-hundred day moving average price of $75.75. The stock has a market cap of $1.07 billion, a PE ratio of 17.19 and a beta of 0.24. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. Safety Insurance Group, Inc. has a 1 year low of $67.04 and a 1 year high of $83.76.

Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). The firm had revenue of $314.67 million for the quarter, compared to the consensus estimate of $315.01 million. Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Monday, June 1st. Safety Insurance Group’s dividend payout ratio is 87.00%.

Insider Transactions at Safety Insurance Group

In other Safety Insurance Group news, major shareholder Corp Srb sold 14,151 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $71.12, for a total transaction of $1,006,419.12. Following the completion of the transaction, the insider owned 1,794,655 shares in the company, valued at approximately $127,635,863.60. This represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 32,215 shares of company stock worth $2,411,467. 2.20% of the stock is currently owned by corporate insiders.

About Safety Insurance Group

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.