Cubic Asset Management LLC increased its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,875 shares of the insurance provider’s stock after buying an additional 50 shares during the period. Cubic Asset Management LLC owned 0.06% of Safety Insurance Group worth $606,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Safety Insurance Group by 76.6% in the first quarter. State of Alaska Department of Revenue now owns 2,720 shares of the insurance provider’s stock worth $190,000 after buying an additional 1,180 shares in the last quarter. TFS Capital LLC purchased a new stake in shares of Safety Insurance Group during the first quarter valued at $200,000. Mason Street Advisors LLC increased its stake in shares of Safety Insurance Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,330 shares of the insurance provider’s stock valued at $233,000 after buying an additional 218 shares during the period. US Bancorp DE increased its stake in shares of Safety Insurance Group by 2.2% in the first quarter. US Bancorp DE now owns 4,694 shares of the insurance provider’s stock valued at $329,000 after buying an additional 100 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Safety Insurance Group by 58.0% in the first quarter. SG Americas Securities LLC now owns 4,708 shares of the insurance provider’s stock valued at $330,000 after buying an additional 1,728 shares during the period. Institutional investors and hedge funds own 79.47% of the company’s stock.
Shares of Safety Insurance Group, Inc. (SAFT) traded down 0.3609% on Thursday, hitting $71.0925. 6,091 shares of the stock traded hands. Safety Insurance Group, Inc. has a one year low of $64.86 and a one year high of $75.05. The company has a market cap of $1.08 billion, a PE ratio of 16.9228 and a beta of 0.77. The stock has a 50 day moving average of $69.71 and a 200 day moving average of $69.90.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.80 dividend. This is an increase from Safety Insurance Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 annualized dividend and a yield of 4.48%. Safety Insurance Group’s dividend payout ratio is 66.67%.
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Separately, BidaskClub raised shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th.
About Safety Insurance Group
Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.
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