DAVENPORT & Co LLC Has $910,000 Holdings in Safety Insurance Group, Inc. $SAFT

DAVENPORT & Co LLC increased its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 1.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,475 shares of the insurance provider’s stock after acquiring an additional 200 shares during the period. DAVENPORT & Co LLC owned about 0.08% of Safety Insurance Group worth $910,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Safety Insurance Group by 67.9% during the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider’s stock valued at $64,000 after purchasing an additional 328 shares in the last quarter. Ballentine Partners LLC acquired a new position in Safety Insurance Group in the 2nd quarter valued at approximately $306,000. CenterBook Partners LP acquired a new position in Safety Insurance Group in the 1st quarter valued at approximately $332,000. Ieq Capital LLC increased its position in Safety Insurance Group by 35.3% in the 1st quarter. Ieq Capital LLC now owns 4,586 shares of the insurance provider’s stock valued at $362,000 after acquiring an additional 1,196 shares during the period. Finally, Diversified Trust Co bought a new stake in shares of Safety Insurance Group in the first quarter worth $430,000. Institutional investors own 81.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SAFT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a report on Wednesday. Wall Street Zen downgraded shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Safety Insurance Group Stock Down 0.2%

Safety Insurance Group stock opened at $69.09 on Friday. Safety Insurance Group, Inc. has a 12-month low of $68.49 and a 12-month high of $90.00. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.03 billion, a PE ratio of 12.10 and a beta of 0.26. The firm’s fifty day moving average is $72.22 and its 200 day moving average is $75.58.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.15). The company had revenue of $345.83 million during the quarter. Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%.

Safety Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Safety Insurance Group’s previous quarterly dividend of $0.90. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.3%. Safety Insurance Group’s payout ratio is currently 64.45%.

Insider Buying and Selling at Safety Insurance Group

In other news, Director Dennis J. Langwell bought 2,000 shares of the stock in a transaction dated Friday, September 5th. The shares were bought at an average cost of $72.39 per share, with a total value of $144,780.00. Following the completion of the transaction, the director directly owned 8,000 shares of the company’s stock, valued at $579,120. This trade represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased 4,055 shares of company stock worth $291,705 over the last quarter. 2.00% of the stock is owned by corporate insiders.

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.