Odyssean LLC Invests $768,000 in Safety Insurance Group, Inc. $SAFT

Odyssean LLC bought a new position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 10,261 shares of the insurance provider’s stock, valued at approximately $768,000.

Several other hedge funds have also recently bought and sold shares of the business. Jupiter Topco LLC acquired a new position in Safety Insurance Group during the second quarter valued at approximately $381,000. Canada Pension Plan Investment Board acquired a new stake in shares of Safety Insurance Group in the second quarter worth $382,000. Legal & General Group Plc purchased a new position in shares of Safety Insurance Group in the 2nd quarter valued at $2,445,000. The Manufacturers Life Insurance Company purchased a new position in shares of Safety Insurance Group in the 2nd quarter valued at $416,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Safety Insurance Group during the 2nd quarter valued at $2,524,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Insider Buying and Selling at Safety Insurance Group

In other news, major shareholder Corp Srb sold 1,240,352 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $103.07, for a total transaction of $127,843,080.64. Following the completion of the sale, the insider directly owned 473,387 shares in the company, valued at $48,791,998.09. This trade represents a 72.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,316,109 shares of company stock worth $134,654,987 in the last three months. 2.20% of the stock is owned by company insiders.

Safety Insurance Group Trading Down 0.0%

NASDAQ SAFT opened at $103.64 on Thursday. The company’s fifty day simple moving average is $88.35 and its 200-day simple moving average is $79.07. Safety Insurance Group, Inc. has a 52 week low of $67.04 and a 52 week high of $103.76. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.52 billion, a P/E ratio of 22.34 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.03. Safety Insurance Group had a net margin of 5.33% and a return on equity of 7.23%. The business had revenue of $325.68 million during the quarter, compared to analyst estimates of $325.68 million. Equities research analysts predict that Safety Insurance Group, Inc. will post 4.75 EPS for the current fiscal year.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Safety Insurance Group’s dividend payout ratio is presently 79.31%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SAFT. Weiss Ratings raised shares of Safety Insurance Group from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Wall Street Zen raised Safety Insurance Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Zacks Research upgraded Safety Insurance Group to a “hold” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

About Safety Insurance Group

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.