Safety Insurance Group, Inc. $SAFT Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lessened its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 45.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,930 shares of the insurance provider’s stock after selling 228,342 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Safety Insurance Group were worth $21,186,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Safety Insurance Group by 74.8% in the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 166 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Safety Insurance Group by 419.1% in 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. EverSource Wealth Advisors LLC boosted its holdings in Safety Insurance Group by 1,317.1% in the second quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 461 shares during the period. Danske Bank A S acquired a new position in Safety Insurance Group in the fourth quarter worth $78,000. Finally, Triumph Capital Management acquired a new position in Safety Insurance Group in the third quarter worth $95,000. Institutional investors and hedge funds own 81.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Safety Insurance Group from a “hold” rating to a “sell” rating in a report on Sunday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Safety Insurance Group currently has an average rating of “Hold”.

Insider Activity

In other news, major shareholder Corp Srb sold 14,151 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $71.12, for a total transaction of $1,006,419.12. Following the completion of the transaction, the insider owned 1,794,655 shares of the company’s stock, valued at approximately $127,635,863.60. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 36,304 shares of company stock worth $2,728,283 over the last three months. Insiders own 2.20% of the company’s stock.

Safety Insurance Group Stock Performance

Shares of SAFT opened at $72.73 on Wednesday. Safety Insurance Group, Inc. has a 1 year low of $67.04 and a 1 year high of $84.20. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 17.19 and a beta of 0.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a fifty day moving average of $73.59 and a 200-day moving average of $75.66.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($2.17). Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. The firm had revenue of $314.67 million for the quarter, compared to analyst estimates of $315.01 million.

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.68 annualized dividend and a dividend yield of 5.1%. Safety Insurance Group’s payout ratio is 87.00%.

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.