Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFTGet Rating) by 70.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,240 shares of the insurance provider’s stock after purchasing an additional 84,663 shares during the period. Victory Capital Management Inc. owned approximately 1.40% of Safety Insurance Group worth $17,669,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SAFT. Allspring Global Investments Holdings LLC acquired a new position in Safety Insurance Group during the fourth quarter worth $6,028,000. Assenagon Asset Management S.A. lifted its stake in Safety Insurance Group by 210.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 80,132 shares of the insurance provider’s stock worth $6,814,000 after purchasing an additional 54,304 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Safety Insurance Group during the fourth quarter worth $3,058,000. Allianz Asset Management GmbH lifted its stake in Safety Insurance Group by 188.8% during the fourth quarter. Allianz Asset Management GmbH now owns 50,144 shares of the insurance provider’s stock worth $4,264,000 after purchasing an additional 32,781 shares in the last quarter. Finally, CWM LLC acquired a new position in Safety Insurance Group during the fourth quarter worth $1,829,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, TheStreet cut Safety Insurance Group from a “b” rating to a “c+” rating in a research note on Friday, July 22nd.

Safety Insurance Group Stock Up 4.2 %

Safety Insurance Group stock opened at $88.96 on Friday. Safety Insurance Group, Inc. has a twelve month low of $76.50 and a twelve month high of $99.75. The stock’s fifty day simple moving average is $92.35 and its 200-day simple moving average is $88.79. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.31 billion, a P/E ratio of 18.38 and a beta of 0.22.

Safety Insurance Group (NASDAQ:SAFTGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The insurance provider reported $0.99 earnings per share for the quarter. Safety Insurance Group had a return on equity of 10.17% and a net margin of 8.87%. The business had revenue of $195.00 million for the quarter.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Wednesday, August 31st. Safety Insurance Group’s dividend payout ratio is currently 74.38%.

Insider Transactions at Safety Insurance Group

In other news, Director Peter J. Manning sold 2,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $90.93, for a total transaction of $181,860.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $454,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

About Safety Insurance Group

(Get Rating)

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.

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Institutional Ownership by Quarter for Safety Insurance Group (NASDAQ:SAFT)

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