The Manufacturers Life Insurance Company Purchases 420 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

The Manufacturers Life Insurance Company lifted its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,386 shares of the insurance provider’s stock after buying an additional 420 shares during the period. The Manufacturers Life Insurance Company’s holdings in Safety Insurance Group were worth $554,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in shares of Safety Insurance Group by 458.9% during the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 257 shares in the last quarter. SG Americas Securities LLC bought a new stake in Safety Insurance Group in the first quarter worth $152,000. Mutual of America Capital Management LLC purchased a new stake in Safety Insurance Group during the first quarter valued at about $210,000. ProShare Advisors LLC grew its stake in shares of Safety Insurance Group by 7.3% during the first quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after buying an additional 198 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new position in shares of Safety Insurance Group in the first quarter worth about $288,000. Institutional investors own 81.04% of the company’s stock.

Insider Activity at Safety Insurance Group

In related news, VP Glenn Hiltpold sold 389 shares of Safety Insurance Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.41, for a total value of $32,835.49. Following the sale, the vice president now owns 11,204 shares in the company, valued at $945,729.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 915 shares of company stock worth $75,125 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Safety Insurance Group Stock Up 0.7 %

Shares of NASDAQ SAFT opened at $81.27 on Wednesday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 23.42 and a beta of 0.16. The firm’s fifty day moving average is $82.50 and its 200 day moving average is $80.36. Safety Insurance Group, Inc. has a 52 week low of $70.53 and a 52 week high of $89.46.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.12). Safety Insurance Group had a net margin of 4.96% and a return on equity of 5.53%. The firm had revenue of $269.78 million for the quarter.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.60 annualized dividend and a dividend yield of 4.43%. Safety Insurance Group’s dividend payout ratio (DPR) is presently 103.75%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

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.