Brandywine Global Investment Management LLC Has $671,000 Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Posted by Defense World Staff on May 28th, 2023

Brandywine Global Investment Management LLC lowered its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT – Get Rating) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,961 shares of the insurance provider’s stock after selling 272 shares during the quarter. Brandywine Global Investment Management LLC owned 0.05% of Safety Insurance Group worth $671,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in Safety Insurance Group during the third quarter valued at approximately $30,000. US Asset Management LLC bought a new position in Safety Insurance Group in the fourth quarter valued at approximately $102,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Safety Insurance Group by 31.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,233 shares of the insurance provider’s stock worth $182,000 after purchasing an additional 528 shares in the last quarter. Inspire Investing LLC increased its holdings in Safety Insurance Group by 16.2% during the third quarter. Inspire Investing LLC now owns 2,537 shares of the insurance provider’s stock worth $207,000 after buying an additional 354 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in Safety Insurance Group by 5.5% during the third quarter. Captrust Financial Advisors now owns 2,606 shares of the insurance provider’s stock worth $213,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Corp Srb bought 26,651 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were bought at an average cost of $72.33 per share, for a total transaction of $1,927,666.83. Following the acquisition, the insider now directly owns 1,710,322 shares in the company, valued at $123,707,590.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Peter J. Manning sold 550 shares of Safety Insurance Group stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $73.43, for a total transaction of $40,386.50. Following the sale, the director now directly owns 5,450 shares in the company, valued at approximately $400,193.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Corp Srb bought 26,651 shares of the stock in a transaction dated Wednesday, May 24th. The shares were acquired at an average price of $72.33 per share, for a total transaction of $1,927,666.83. Following the completion of the purchase, the insider now directly owns 1,710,322 shares in the company, valued at $123,707,590.26. The disclosure for this purchase can be found here. Insiders have sold a total of 1,430 shares of company stock worth $111,283 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Safety Insurance Group in a report on Thursday, May 18th. They issued a “hold” rating on the stock.

Safety Insurance Group Stock Up 0.2 %

SAFT stock opened at $72.27 on Friday. The firm has a 50-day moving average price of $73.24 and a 200-day moving average price of $80.81. The stock has a market capitalization of $1.07 billion, a P/E ratio of 40.60 and a beta of 0.31. Safety Insurance Group, Inc. has a 12 month low of $67.71 and a 12 month high of $99.75. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.06.

Safety Insurance Group (NASDAQ:SAFT – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The insurance provider reported $0.98 earnings per share (EPS) for the quarter. The business had revenue of $226.60 million during the quarter. Safety Insurance Group had a net margin of 3.23% and a return on equity of 5.81%.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Wednesday, May 31st. Safety Insurance Group’s dividend payout ratio (DPR) is 202.25%.

Safety Insurance Group Company Profile

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Safety Insurance Group, Inc engages in the management and provision of insurance services. It offers property and casualty insurance products which include commercial vehicles and fleets. The firm provides private passenger automobile, commercial automobile and homeowners insurance. The company was founded in 1979 and is headquartered in Boston, MA.