Assenagon Asset Management S.A. Buys Shares of 19,155 Safety Insurance Group, Inc. $SAFT

Assenagon Asset Management S.A. bought a new position in Safety Insurance Group, Inc. (NASDAQ:SAFT) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 19,155 shares of the insurance provider’s stock, valued at approximately $1,391,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP grew its holdings in shares of Safety Insurance Group by 74.8% in the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Bayban acquired a new stake in Safety Insurance Group during the fourth quarter worth about $31,000. PNC Financial Services Group Inc. raised its stake in Safety Insurance Group by 62.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 160 shares during the period. Capital Advisors Ltd. LLC raised its stake in Safety Insurance Group by 419.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 394 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Safety Insurance Group by 653.0% in the 4th quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 431 shares during the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

Safety Insurance Group Price Performance

Safety Insurance Group stock opened at $76.26 on Thursday. The company’s 50 day simple moving average is $72.41 and its 200-day simple moving average is $74.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. Safety Insurance Group, Inc. has a 1 year low of $67.04 and a 1 year high of $81.49. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 18.03 and a beta of 0.21.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%.The company had revenue of $314.67 million for the quarter, compared to analysts’ expectations of $315.01 million. As a group, equities research analysts expect that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current year.

Safety Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, June 1st. Safety Insurance Group’s dividend payout ratio is 87.00%.

Analyst Upgrades and Downgrades

SAFT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a report on Friday, May 29th. Finally, Zacks Research upgraded Safety Insurance Group to a “hold” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Safety Insurance Group has a consensus rating of “Hold”.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.