ProShare Advisors LLC Buys New Holdings in Safety Insurance Group, Inc. $SAFT

ProShare Advisors LLC purchased a new position in Safety Insurance Group, Inc. (NASDAQ:SAFT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,565 shares of the insurance provider’s stock, valued at approximately $576,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Safety Insurance Group during the second quarter valued at approximately $171,385,000. Bank of New York Mellon Corp bought a new position in shares of Safety Insurance Group during the second quarter worth $10,513,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Safety Insurance Group during the second quarter valued at $2,524,000. Legal & General Group Plc purchased a new position in Safety Insurance Group during the second quarter valued at $2,445,000. Finally, Bank of America Corp DE bought a new stake in Safety Insurance Group in the 2nd quarter valued at $2,140,000. 81.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Safety Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 17th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Safety Insurance Group Stock Performance

Safety Insurance Group stock opened at $104.27 on Monday. The company’s 50-day moving average price is $103.76 and its 200-day moving average price is $85.38. Safety Insurance Group, Inc. has a twelve month low of $67.93 and a twelve month high of $104.41. The company has a quick ratio of 0.41, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.53 billion, a PE ratio of 21.81 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.70. The firm had revenue of $327.77 million during the quarter, compared to the consensus estimate of $327.77 million. Safety Insurance Group had a net margin of 5.46% and a return on equity of 8.09%. On average, equities research analysts forecast that Safety Insurance Group, Inc. will post 4.15 EPS for the current fiscal year.

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.92 per share. The ex-dividend date is Tuesday, December 1st. This represents a $3.68 dividend on an annualized basis and a yield of 3.5%. Safety Insurance Group’s dividend payout ratio is 79.31%.

About Safety Insurance Group

Safety Insurance Group, Inc is an insurance holding company that provides property and casualty insurance products primarily through its subsidiary, Safety Insurance Company. The company focuses on personal and commercial insurance coverage for individuals, families, and businesses.

Its product offerings include private passenger automobile insurance, homeowners insurance, dwelling fire coverage, business owners policies, commercial automobile insurance, and related property and liability products.