Raymond James Financial Inc. Acquires Shares of 14,562 Safety Insurance Group, Inc. (NASDAQ:SAFT)

Raymond James Financial Inc. acquired a new stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,562 shares of the insurance provider's stock, valued at approximately $1,200,000. Raymond James Financial Inc. owned approximately 0.10% of Safety Insurance Group as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. KBC Group NV raised its position in Safety Insurance Group by 52.2% during the fourth quarter. KBC Group NV now owns 1,000 shares of the insurance provider's stock valued at $82,000 after purchasing an additional 343 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of Safety Insurance Group during the 4th quarter valued at about $279,000. XTX Topco Ltd purchased a new position in shares of Safety Insurance Group during the 3rd quarter valued at about $283,000. Handelsbanken Fonder AB lifted its position in Safety Insurance Group by 14.1% in the 4th quarter. Handelsbanken Fonder AB now owns 4,858 shares of the insurance provider's stock worth $400,000 after buying an additional 600 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Safety Insurance Group in the third quarter worth approximately $723,000. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Stock Performance

NASDAQ:SAFT traded down $3.22 during trading hours on Monday, reaching $73.02. The company's stock had a trading volume of 107,584 shares, compared to its average volume of 53,361. The firm has a 50-day simple moving average of $77.74 and a 200-day simple moving average of $80.59. Safety Insurance Group, Inc. has a 1 year low of $71.19 and a 1 year high of $90.00. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 14.46 and a beta of 0.19.

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Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.23). The company had revenue of $286.72 million during the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.90 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.60 annualized dividend and a yield of 4.93%. Safety Insurance Group's payout ratio is currently 75.47%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th.

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.