Jacobs Levy Equity Management Inc. Buys 29,167 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Jacobs Levy Equity Management Inc. increased its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 113.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,929 shares of the insurance provider’s stock after acquiring an additional 29,167 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Safety Insurance Group were worth $4,515,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its stake in Safety Insurance Group by 458.9% during the 1st quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 257 shares in the last quarter. SG Americas Securities LLC bought a new stake in Safety Insurance Group during the 1st quarter valued at $152,000. Mutual of America Capital Management LLC bought a new stake in Safety Insurance Group during the 1st quarter valued at $210,000. ProShare Advisors LLC increased its stake in Safety Insurance Group by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 198 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in Safety Insurance Group during the 1st quarter valued at $288,000. Institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Stock Performance

SAFT traded down $1.57 during mid-day trading on Wednesday, reaching $85.51. 53,946 shares of the stock were exchanged, compared to its average volume of 53,461. The stock has a market capitalization of $1.27 billion, a PE ratio of 25.10 and a beta of 0.17. The company has a 50 day moving average price of $78.27 and a two-hundred day moving average price of $80.22. Safety Insurance Group, Inc. has a 1 year low of $65.78 and a 1 year high of $88.72.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.93 earnings per share (EPS) for the quarter. The firm had revenue of $268.23 million for the quarter. Safety Insurance Group had a net margin of 5.20% and a return on equity of 4.90%.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Monday, June 3rd. Safety Insurance Group’s dividend payout ratio is 103.75%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, May 10th.

Insiders Place Their Bets

In related news, VP Glenn Hiltpold sold 338 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $76.75, for a total value of $25,941.50. Following the transaction, the vice president now directly owns 11,593 shares of the company’s stock, valued at approximately $889,762.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

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.