Connor Clark & Lunn Investment Management Ltd. Buys New Stake in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,365 shares of the insurance provider’s stock, valued at approximately $607,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV lifted its holdings in shares of Safety Insurance Group by 52.2% during the 4th quarter. KBC Group NV now owns 1,000 shares of the insurance provider’s stock valued at $82,000 after acquiring an additional 343 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Safety Insurance Group in the 3rd quarter worth $213,000. Ieq Capital LLC acquired a new position in Safety Insurance Group in the 4th quarter worth $279,000. XTX Topco Ltd acquired a new position in Safety Insurance Group in the 3rd quarter worth $283,000. Finally, Inceptionr LLC acquired a new position in Safety Insurance Group in the 4th quarter worth $295,000. Institutional investors and hedge funds own 81.04% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, February 27th.

Safety Insurance Group Price Performance

Shares of SAFT stock opened at $76.52 on Friday. The firm has a market capitalization of $1.14 billion, a P/E ratio of 15.15 and a beta of 0.13. The company’s fifty day moving average price is $77.84 and its two-hundred day moving average price is $80.96. Safety Insurance Group, Inc. has a 12 month low of $73.38 and a 12 month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.23). The company had revenue of $286.72 million during the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.70%. Safety Insurance Group’s dividend payout ratio (DPR) is presently 75.47%.

About Safety Insurance Group

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.