Teacher Retirement System of Texas Purchases 33,786 Shares of Safety Insurance Group, Inc. $SAFT

Teacher Retirement System of Texas boosted its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 255.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 47,034 shares of the insurance provider’s stock after purchasing an additional 33,786 shares during the period. Teacher Retirement System of Texas’ holdings in Safety Insurance Group were worth $3,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CW Advisors LLC bought a new position in shares of Safety Insurance Group during the 1st quarter worth $7,230,000. Adage Capital Partners GP L.L.C. lifted its holdings in Safety Insurance Group by 41.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 217,000 shares of the insurance provider’s stock valued at $17,117,000 after purchasing an additional 64,000 shares during the last quarter. Millennium Management LLC boosted its position in Safety Insurance Group by 284.9% during the first quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock worth $6,765,000 after purchasing an additional 63,480 shares during the period. Nuveen LLC bought a new position in Safety Insurance Group during the first quarter worth about $2,931,000. Finally, Jane Street Group LLC purchased a new position in shares of Safety Insurance Group in the first quarter worth about $2,717,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Safety Insurance Group Stock Performance

NASDAQ SAFT opened at $68.73 on Friday. Safety Insurance Group, Inc. has a 1 year low of $67.04 and a 1 year high of $90.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $1.02 billion, a PE ratio of 12.04 and a beta of 0.26. The company’s 50 day simple moving average is $71.16 and its two-hundred day simple moving average is $74.71.

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

Safety Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Safety Insurance Group’s previous quarterly dividend of $0.90. Safety Insurance Group’s payout ratio is 64.45%.

Insider Activity

In other Safety Insurance Group news, Director Dennis J. Langwell purchased 2,000 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was purchased at an average price of $72.39 per share, for a total transaction of $144,780.00. Following the transaction, the director owned 8,000 shares in the company, valued at $579,120. The trade was a 33.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders bought 4,055 shares of company stock worth $291,705. Company 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.