Metropolitan Life Insurance Co NY boosted its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 109,200.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 4,372 shares of the insurance provider’s stock after acquiring an additional 4,368 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Safety Insurance Group were worth $342,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Alpha Paradigm Partners LLC purchased a new position in shares of Safety Insurance Group during the 2nd quarter worth $42,000. Lazard Asset Management LLC lifted its stake in shares of Safety Insurance Group by 404.8% during the 2nd quarter. Lazard Asset Management LLC now owns 2,095 shares of the insurance provider’s stock worth $163,000 after purchasing an additional 1,680 shares during the period. Federated Hermes Inc. purchased a new position in shares of Safety Insurance Group during the 2nd quarter worth $165,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Safety Insurance Group during the 1st quarter worth $203,000. Finally, Advisor Partners LLC purchased a new position in shares of Safety Insurance Group during the 1st quarter worth $253,000. 77.46% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Ann Marie Mckeown sold 3,390 shares of the company’s stock in a transaction on Wednesday, September 22nd. The stock was sold at an average price of $79.01, for a total transaction of $267,843.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.30% of the company’s stock.
Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, November 3rd. The insurance provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.55. The company had revenue of $213.71 million for the quarter. Safety Insurance Group had a return on equity of 13.32% and a net margin of 16.97%.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st will be issued a dividend of $0.90 per share. The ex-dividend date is Tuesday, November 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.52%. Safety Insurance Group’s payout ratio is 35.64%.
Safety Insurance Group Profile
Safety Insurance Group, Inc engages in the management and provision of insurance services. It offers property and casualty insurance products which include commercial vehicles and fleets. The firm provides private passenger automobile, commercial automobile and homeowners insurance. The company was founded in 1979 and is headquartered in Boston, MA.
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