ProShare Advisors LLC Makes New Investment in Safety Insurance Group, Inc. $SAFT

ProShare Advisors LLC acquired a new position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 5,565 shares of the insurance provider’s stock, valued at approximately $576,000.

A number of other hedge funds have also bought and sold shares of the company. Odyssean LLC purchased a new stake in shares of Safety Insurance Group in the second quarter valued at $768,000. Deutsche Bank AG purchased a new position in shares of Safety Insurance Group during the 2nd quarter worth about $1,187,000. BlackRock Inc. purchased a new position in shares of Safety Insurance Group during the 2nd quarter worth about $171,385,000. Legal & General Group Plc purchased a new position in shares of Safety Insurance Group during the 2nd quarter worth about $2,445,000. Finally, Bank of America Corp DE bought a new position in Safety Insurance Group during the 2nd quarter valued at about $2,140,000. Institutional investors own 81.04% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Safety Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Safety Insurance Group Price Performance

Shares of SAFT stock opened at $104.27 on Monday. The stock has a 50 day moving average price of $103.76 and a 200 day moving average price of $85.38. Safety Insurance Group, Inc. has a 52-week low of $67.93 and a 52-week high of $104.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.41 and a current ratio of 0.39. The firm has a market capitalization of $1.53 billion, a P/E ratio of 21.81 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Wednesday, November 4th. The insurance provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.25 by $0.70. Safety Insurance Group had a return on equity of 8.09% and a net margin of 5.46%. The company had revenue of $327.77 million for the quarter, compared to the consensus estimate of $327.77 million. As a group, sell-side analysts predict that Safety Insurance Group, Inc. will post 4.15 earnings per share for the current year.

Safety Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, December 1st. Safety Insurance Group’s payout ratio is currently 79.31%.

Safety Insurance Group Profile

Safety Insurance Group, Inc is an insurance holding company that provides property and casualty insurance products primarily through its subsidiary, Safety Insurance Company. The company focuses on personal and commercial insurance coverage for individuals, families, and businesses.

Its product offerings include private passenger automobile insurance, homeowners insurance, dwelling fire coverage, business owners policies, commercial automobile insurance, and related property and liability products.