Safety Insurance Group, Inc. $SAFT Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 552,680 shares of the insurance provider’s stock after selling 22,115 shares during the quarter. TimesSquare Capital Management LLC owned approximately 3.71% of Safety Insurance Group worth $43,877,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. CW Advisors LLC bought a new position in Safety Insurance Group during the 1st quarter worth $7,230,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Safety Insurance Group by 41.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 217,000 shares of the insurance provider’s stock valued at $17,117,000 after acquiring an additional 64,000 shares during the period. Millennium Management LLC grew its position in shares of Safety Insurance Group by 284.9% during the first quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock worth $6,765,000 after acquiring an additional 63,480 shares during the last quarter. Nuveen LLC bought a new position in shares of Safety Insurance Group during the first quarter worth about $2,931,000. Finally, Jane Street Group LLC acquired a new stake in shares of Safety Insurance Group in the 1st quarter worth about $2,717,000. Institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Trading Down 0.4%

NASDAQ SAFT opened at $76.81 on Wednesday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 13.45 and a beta of 0.26. Safety Insurance Group, Inc. has a twelve month low of $67.04 and a twelve month high of $89.33. The firm’s 50 day moving average price is $71.12 and its two-hundred day moving average price is $74.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.42 and a current ratio of 0.42.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Monday, November 3rd. The insurance provider reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.32). The company had revenue of $323.21 million for the quarter. Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%.

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, December 1st. Safety Insurance Group’s dividend payout ratio (DPR) is currently 62.48%.

Insider Buying and Selling

In other Safety Insurance Group news, Director Dennis J. Langwell purchased 2,000 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was bought at an average cost of $72.39 per share, for a total transaction of $144,780.00. Following the completion of the acquisition, the director directly owned 8,000 shares in the company, valued at $579,120. This represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen cut shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Safety Insurance Group Company Profile

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.