Safety Insurance Group, Inc. (NASDAQ:SAFT) Stake Lifted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 113.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,929 shares of the insurance provider’s stock after acquiring an additional 29,167 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.37% of Safety Insurance Group worth $4,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SAFT. Bessemer Group Inc. boosted its holdings in Safety Insurance Group by 458.9% during the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock worth $26,000 after buying an additional 257 shares in the last quarter. SG Americas Securities LLC bought a new stake in Safety Insurance Group during the first quarter worth approximately $152,000. Mutual of America Capital Management LLC bought a new stake in Safety Insurance Group during the first quarter worth approximately $210,000. ProShare Advisors LLC boosted its holdings in Safety Insurance Group by 7.3% during the first quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock worth $239,000 after buying an additional 198 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in Safety Insurance Group during the first quarter worth approximately $288,000. 81.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Safety Insurance Group news, VP Glenn Hiltpold sold 338 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $76.75, for a total value of $25,941.50. Following the completion of the sale, the vice president now owns 11,593 shares in the company, valued at approximately $889,762.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Friday, May 10th.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT traded down $1.57 during mid-day trading on Wednesday, hitting $85.51. The stock had a trading volume of 53,946 shares, compared to its average volume of 53,461. The company has a market cap of $1.27 billion, a PE ratio of 25.10 and a beta of 0.17. Safety Insurance Group, Inc. has a 12-month low of $65.78 and a 12-month high of $88.72. The company’s 50 day moving average is $78.27 and its 200-day moving average is $80.22.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.93 EPS for the quarter. The business had revenue of $268.23 million during the quarter. Safety Insurance Group had a net margin of 5.20% and a return on equity of 4.90%.

Safety Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a $0.90 dividend. The ex-dividend date was Monday, June 3rd. This represents a $3.60 dividend on an annualized basis and a yield of 4.21%. Safety Insurance Group’s payout ratio is 103.75%.

About Safety Insurance Group

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.