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

Geode Capital Management LLC increased its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,390 shares of the insurance provider’s stock after buying an additional 2,435 shares during the period. Geode Capital Management LLC owned about 2.39% of Safety Insurance Group worth $29,070,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Safety Insurance Group in the third quarter valued at about $202,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Safety Insurance Group during the 3rd quarter worth approximately $213,000. Everence Capital Management Inc. purchased a new stake in Safety Insurance Group in the 3rd quarter valued at approximately $267,000. XTX Topco Ltd acquired a new stake in Safety Insurance Group during the 3rd quarter valued at $283,000. Finally, Creative Planning purchased a new position in Safety Insurance Group during the third quarter worth $299,000. 81.04% of the stock is owned by institutional investors and hedge funds.

Safety Insurance Group Price Performance

Shares of NASDAQ SAFT opened at $82.30 on Friday. The company has a 50-day simple moving average of $83.41 and a 200-day simple moving average of $81.84. The company has a market cap of $1.22 billion, a PE ratio of 16.30 and a beta of 0.19. Safety Insurance Group, Inc. has a 12 month low of $71.99 and a 12 month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Tuesday, November 5th. The insurance provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.30). The firm had revenue of $295.28 million during the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.60 annualized dividend and a yield of 4.37%. Safety Insurance Group’s payout ratio is currently 71.29%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

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.