TimesSquare Capital Management LLC Boosts Stock Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

TimesSquare Capital Management LLC lifted its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 512,888 shares of the insurance provider’s stock after purchasing an additional 57,320 shares during the period. TimesSquare Capital Management LLC owned about 3.46% of Safety Insurance Group worth $41,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of Safety Insurance Group by 74.8% in the 1st quarter. BNP Paribas Financial Markets now owns 7,164 shares of the insurance provider’s stock valued at $589,000 after buying an additional 3,066 shares during the period. Janney Montgomery Scott LLC grew its holdings in Safety Insurance Group by 18.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,019 shares of the insurance provider’s stock worth $330,000 after acquiring an additional 619 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Safety Insurance Group in the 1st quarter valued at approximately $210,000. Texas Permanent School Fund Corp raised its holdings in shares of Safety Insurance Group by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 12,946 shares of the insurance provider’s stock valued at $1,064,000 after purchasing an additional 168 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Safety Insurance Group in the first quarter valued at $152,000. 81.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research report on Wednesday.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT opened at $86.36 on Friday. Safety Insurance Group, Inc. has a one year low of $71.99 and a one year high of $90.00. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 17.10 and a beta of 0.17. The company has a 50-day simple moving average of $81.88 and a 200-day simple moving average of $80.59.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.30). The company 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 4.17%. Safety Insurance Group’s payout ratio is currently 71.29%.

Insider Transactions at Safety Insurance Group

In other news, VP Glenn Hiltpold sold 389 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.41, for a total transaction of $32,835.49. Following the completion of the transaction, the vice president now directly owns 11,204 shares of the company’s stock, valued at approximately $945,729.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 915 shares of company stock worth $75,125. Company insiders own 2.00% of the company’s stock.

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.