Assenagon Asset Management S.A. trimmed its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT – Free Report) by 37.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,360 shares of the insurance provider’s stock after selling 4,390 shares during the period. Assenagon Asset Management S.A.’s holdings in Safety Insurance Group were worth $584,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC lifted its stake in Safety Insurance Group by 169.9% during the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 282 shares during the period. GAMMA Investing LLC lifted its stake in Safety Insurance Group by 67.9% during the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 328 shares during the period. Two Sigma Advisers LP acquired a new stake in Safety Insurance Group during the 4th quarter valued at approximately $305,000. CenterBook Partners LP acquired a new stake in Safety Insurance Group during the 1st quarter valued at approximately $332,000. Finally, Ieq Capital LLC lifted its stake in Safety Insurance Group by 35.3% during the 1st quarter. Ieq Capital LLC now owns 4,586 shares of the insurance provider’s stock valued at $362,000 after acquiring an additional 1,196 shares during the period. 81.04% of the stock is currently owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In related news, Director Dennis J. Langwell acquired 2,000 shares of Safety Insurance Group stock in a transaction on 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 transaction, the director owned 8,000 shares of the company’s stock, valued at approximately $579,120. The trade was a 33.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders have acquired 4,055 shares of company stock worth $291,705 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.
Analyst Ratings Changes
Separately, Wall Street Zen cut shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th.
Read Our Latest Research Report on Safety Insurance Group
Safety Insurance Group Stock Down 0.0%
SAFT stock opened at $71.19 on Friday. The firm has a market cap of $1.06 billion, a PE ratio of 12.47 and a beta of 0.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.42 and a current ratio of 0.42. The firm’s fifty day moving average is $72.36 and its 200 day moving average is $76.10. Safety Insurance Group, Inc. has a one year low of $68.76 and a one year high of $90.00.
Safety Insurance Group (NASDAQ:SAFT – Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.45 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.15). The firm had revenue of $345.83 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 Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.92 per share. This is a boost from Safety Insurance Group’s previous quarterly dividend of $0.90. This represents a $3.68 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Tuesday, September 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is currently 64.45%.
About Safety Insurance Group
(Free Report)
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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Safety Insurance Group, Inc. $SAFT Shares Sold by Assenagon Asset Management S.A.
