Man Group plc raised its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 107.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,355 shares of the insurance provider’s stock after purchasing an additional 4,326 shares during the quarter. Man Group plc owned 0.05% of Safety Insurance Group worth $749,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of SAFT. Raymond James & Associates bought a new position in shares of Safety Insurance Group in the 2nd quarter valued at $233,000. Dynamic Technology Lab Private Ltd bought a new position in Safety Insurance Group during the 3rd quarter worth $247,000. Vident Investment Advisory LLC bought a new position in Safety Insurance Group during the 2nd quarter worth $333,000. United Services Automobile Association bought a new position in Safety Insurance Group during the 3rd quarter worth $380,000. Finally, Paloma Partners Management Co bought a new position in Safety Insurance Group during the 3rd quarter worth $392,000. 80.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SAFT stock traded up $0.35 during mid-day trading on Friday, hitting $85.92. The company’s stock had a trading volume of 19,279 shares, compared to its average volume of 24,578. Safety Insurance Group, Inc. has a 52 week low of $70.45 and a 52 week high of $99.70. The firm has a market cap of $1.31 billion, a PE ratio of 17.18 and a beta of 0.61.
Separately, BidaskClub lowered Safety Insurance Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 18th.
Safety Insurance Group Profile
Safety Insurance Group, Inc provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, 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.
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