Y Intercept Hong Kong Ltd Makes New Investment in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Y Intercept Hong Kong Ltd acquired a new stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 8,846 shares of the insurance provider’s stock, valued at approximately $723,000.

Other hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System grew its position in Safety Insurance Group by 2.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the insurance provider’s stock worth $563,000 after purchasing an additional 200 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Safety Insurance Group by 7.4% during the second quarter. Inspire Investing LLC now owns 4,658 shares of the insurance provider’s stock worth $349,000 after buying an additional 319 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Safety Insurance Group by 6.0% during the second quarter. The Manufacturers Life Insurance Company now owns 7,386 shares of the insurance provider’s stock worth $554,000 after buying an additional 420 shares during the last quarter. WINTON GROUP Ltd increased its position in Safety Insurance Group by 4.8% in the 2nd quarter. WINTON GROUP Ltd now owns 11,771 shares of the insurance provider’s stock valued at $883,000 after acquiring an additional 537 shares during the period. Finally, Silver Lake Advisory LLC raised its stake in Safety Insurance Group by 1.8% during the 2nd quarter. Silver Lake Advisory LLC now owns 41,658 shares of the insurance provider’s stock valued at $3,126,000 after acquiring an additional 752 shares during the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th.

Safety Insurance Group Stock Performance

Shares of SAFT opened at $83.71 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of 16.58 and a beta of 0.19. Safety Insurance Group, Inc. has a 1 year low of $71.99 and a 1 year high of $90.00. The company’s fifty day moving average is $83.14 and its two-hundred day moving average is $81.44.

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

Safety Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.90 dividend. The ex-dividend date was Monday, December 2nd. This represents a $3.60 annualized dividend and a dividend yield of 4.30%. Safety Insurance Group’s dividend payout ratio is currently 71.29%.

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.