KLP Kapitalforvaltning AS Has $663,000 Stock Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

KLP Kapitalforvaltning AS lifted its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 147.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,400 shares of the insurance provider’s stock after buying an additional 5,000 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.06% of Safety Insurance Group worth $663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in Safety Insurance Group in the first quarter valued at about $1,123,000. Principal Financial Group Inc. raised its stake in Safety Insurance Group by 2.7% in the first quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider’s stock valued at $5,827,000 after purchasing an additional 1,926 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Safety Insurance Group by 52.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,137 shares of the insurance provider’s stock valued at $1,431,000 after purchasing an additional 6,223 shares in the last quarter. Diversified Trust Co acquired a new position in Safety Insurance Group in the first quarter valued at about $430,000. Finally, Assenagon Asset Management S.A. acquired a new position in Safety Insurance Group in the first quarter valued at about $927,000. Institutional investors and hedge funds own 81.04% of the company’s stock.

Safety Insurance Group Stock Up 0.7%

SAFT stock opened at $70.52 on Wednesday. The company has a market cap of $1.05 billion, a PE ratio of 14.42 and a beta of 0.26. The business has a 50-day simple moving average of $77.24 and a 200 day simple moving average of $77.68. Safety Insurance Group, Inc. has a 52 week low of $69.84 and a 52 week high of $90.00. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.04.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Wednesday, May 7th. The insurance provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.25 by $0.03. The firm had revenue of $298.97 million during the quarter. Safety Insurance Group had a return on equity of 7.99% and a net margin of 6.29%.

Safety Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.10%. The ex-dividend date was Monday, June 2nd. Safety Insurance Group’s payout ratio is 73.62%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd.

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.