Raymond James Financial Inc. Makes New Investment in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Raymond James Financial Inc. acquired a new stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,562 shares of the insurance provider’s stock, valued at approximately $1,200,000. Raymond James Financial Inc. owned 0.10% of Safety Insurance Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SAFT. KBC Group NV lifted its stake in Safety Insurance Group by 52.2% in the fourth quarter. KBC Group NV now owns 1,000 shares of the insurance provider’s stock valued at $82,000 after buying an additional 343 shares during the period. Ieq Capital LLC bought a new stake in shares of Safety Insurance Group in the 4th quarter valued at $279,000. XTX Topco Ltd acquired a new position in shares of Safety Insurance Group during the 3rd quarter valued at $283,000. Handelsbanken Fonder AB boosted its stake in Safety Insurance Group by 14.1% during the fourth quarter. Handelsbanken Fonder AB now owns 4,858 shares of the insurance provider’s stock worth $400,000 after acquiring an additional 600 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Safety Insurance Group in the third quarter worth $723,000. Institutional investors own 81.04% of the company’s stock.

Wall Street Analyst Weigh In

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

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT opened at $79.80 on Thursday. The firm has a market cap of $1.18 billion, a P/E ratio of 15.80 and a beta of 0.13. Safety Insurance Group, Inc. has a 52-week low of $73.38 and a 52-week high of $90.00. The business’s 50 day simple moving average is $77.85 and its two-hundred day simple moving average is $80.74.

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

Safety Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.60 annualized dividend and a dividend yield of 4.51%. Safety Insurance Group’s dividend payout ratio is currently 75.47%.

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.