SG Americas Securities LLC Buys Shares of 3,741 Safety Insurance Group, Inc. (NASDAQ:SAFT)

Posted by Defense World Staff on Aug 8th, 2023

SG Americas Securities LLC purchased a new position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,741 shares of the insurance provider’s stock, valued at approximately $279,000.

Several other large investors also recently made changes to their positions in SAFT. State Street Corp boosted its stake in shares of Safety Insurance Group by 32.6% during the 1st quarter. State Street Corp now owns 705,940 shares of the insurance provider’s stock worth $64,135,000 after acquiring an additional 173,482 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Safety Insurance Group by 39.1% during the 4th quarter. JPMorgan Chase & Co. now owns 201,262 shares of the insurance provider’s stock worth $16,959,000 after acquiring an additional 56,572 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Safety Insurance Group by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,620,184 shares of the insurance provider’s stock worth $132,143,000 after acquiring an additional 49,842 shares in the last quarter. Northstar Asset Management Inc. bought a new stake in shares of Safety Insurance Group during the 4th quarter worth about $3,811,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Safety Insurance Group by 11.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 413,067 shares of the insurance provider’s stock worth $34,805,000 after acquiring an additional 41,113 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Corp Srb purchased 8,789 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was purchased at an average price of $72.80 per share, with a total value of $639,839.20. Following the acquisition, the insider now directly owns 1,683,571 shares in the company, valued at approximately $122,563,968.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Corp Srb purchased 8,789 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was purchased at an average price of $72.80 per share, with a total value of $639,839.20. Following the acquisition, the insider now directly owns 1,683,571 shares in the company, valued at approximately $122,563,968.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter J. Manning sold 550 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $73.43, for a total value of $40,386.50. Following the completion of the transaction, the director now directly owns 5,450 shares of the company’s stock, valued at approximately $400,193.50. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 121,845 shares of company stock valued at $8,715,626. Insiders own 4.40% of the company’s stock.

Safety Insurance Group Price Performance

NASDAQ SAFT opened at $73.72 on Tuesday. Safety Insurance Group, Inc. has a twelve month low of $66.00 and a twelve month high of $96.30. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.34 and a current ratio of 0.38. The stock has a market capitalization of $1.10 billion, a PE ratio of 30.72 and a beta of 0.28. The stock has a 50-day simple moving average of $71.47 and a 200 day simple moving average of $75.39.

Safety Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, August 31st. This represents a $3.60 annualized dividend and a dividend yield of 4.88%. Safety Insurance Group’s dividend payout ratio is presently 150.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Safety Insurance Group in a research report on Thursday, May 18th. They set a “hold” rating for the company.

Check Out Our Latest Analysis on SAFT

Safety Insurance Group Company Profile

(Free Report)

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.