TimesSquare Capital Management LLC Raises Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

TimesSquare Capital Management LLC increased its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 12.6% in the third quarter, Holdings Channel.com reports. The firm owned 512,888 shares of the insurance provider’s stock after purchasing an additional 57,320 shares during the period. TimesSquare Capital Management LLC’s holdings in Safety Insurance Group were worth $41,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SAFT. Jacobs Levy Equity Management Inc. increased its stake in shares of Safety Insurance Group by 113.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 54,929 shares of the insurance provider’s stock valued at $4,515,000 after acquiring an additional 29,167 shares during the last quarter. Vanguard Group Inc. raised its stake in Safety Insurance Group by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,695,813 shares of the insurance provider’s stock worth $139,379,000 after purchasing an additional 54,441 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Safety Insurance Group by 458.9% in the 1st quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 257 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Safety Insurance Group by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,192 shares of the insurance provider’s stock valued at $1,660,000 after purchasing an additional 509 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Safety Insurance Group by 8,078.0% during the 3rd quarter. International Assets Investment Management LLC now owns 16,356 shares of the insurance provider’s stock valued at $1,338,000 after buying an additional 16,156 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Safety Insurance Group from a “buy” rating to a “hold” rating in a research report on Wednesday.

Insider Transactions at Safety Insurance Group

In related news, VP Glenn Hiltpold sold 389 shares of Safety Insurance Group 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 directly owns 11,204 shares in the company, valued at approximately $945,729.64. This trade represents 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 accessible through this link. In the last 90 days, insiders sold 915 shares of company stock valued at $75,125. Insiders own 2.00% of the company’s stock.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT opened at $86.36 on Friday. The business’s 50-day simple moving average is $81.88 and its 200 day simple moving average is $80.59. The company has a market cap of $1.28 billion, a P/E ratio of 17.10 and a beta of 0.17. Safety Insurance Group, Inc. has a one year low of $71.99 and a one year high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.30). Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The firm had revenue of $295.28 million during the quarter.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 4.17%. Safety Insurance Group’s dividend payout ratio (DPR) is 71.29%.

Safety Insurance Group 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.