Victory Capital Management Inc. Security Insurance Group, Inc. increased its position in shares of (NASDAQ: SAFT – GET Rating) by 70.2% during the first quarter, according to its recent Form 13F filing with the Securities and Exchange Commission emerges. The institutional investor held 205,240 shares of the insurance provider after purchasing an additional 84,663 shares during the period. Victory Capital Management Inc. owns about a 1.40% stake in Security Insurance Group valued at $17,669,000, according to the recent SEC filing.
Several other major investors have recently increased or decreased their stake in SAFT. Allspring Global Investments Holdings LLC acquired a new position in the security insurance group at a price of $6,028,000 during the fourth quarter. Assenagon Asset Management SA increased its stake in Suraksha Insurance Group to 210.3% in the fourth quarter. After purchasing an additional 54,304 shares last quarter, Assenagon Asset Management SA now owns 80,132 shares of the insurance provider, valued at $6,814,000. Adage Capital Partners GP LLC acquired a new position in the protection insurance group at a price of $3,058,000 in the fourth quarter. Allianz Asset Management GmbH increased its stake in Suraksha Insurance Group by 188.8% in the fourth quarter. After purchasing an additional 32,781 shares last quarter, Allianz Asset Management GmbH now owns 50,144 shares of the insurance provider, valued at $4,264,000. Finally, CWM LLC acquired a new position in Security Insurance Group valued at $1,829,000 during the fourth quarter. 79.46% of the shares are currently owned by institutional investors and hedge funds.
Analysts set new price targets
Separately, TheStreet downgraded Protection Insurance Group from a “B” rating to a “C+” rating in a research note on Friday, July 22.
Suraksha Insurance Group share price up 4.2%
Suraksha Insurance Group shares opened at $88.96 on Friday. Safety Insurance Group, Inc. 12-month low of $76.50 and 12-month high of $99.75. The stock’s 50-day simple moving average is $92.35 and its 200-day simple moving average is $88.79. The company’s current ratio is 0.33, a quick ratio is 0.33, and leverage is 0.03. The company has a market cap of $1.31 billion, a P/E of 18.38 and a beta of 0.22.
The Security Insurance Group (NASDAQ:SAFT – GET RATINGS) last released its quarterly earnings results on Wednesday, May 4th. The insurance provider reported earnings per share of $0.99 for the quarter. Safety Insurance Group had a return on equity of 10.17% and a net margin of 8.87%. Business revenue for the quarter was $195.00 million.
Suraksha Insurance Group declares dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. A dividend of $0.90 per share will be paid to shareholders of record on Thursday, September 1st. This equates to a dividend of $3.60 on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Wednesday August 31st. Suraksha Insurance Group’s dividend payout ratio is currently 74.38 percent.
Insider Transactions in Suraksha Insurance Group
In other news, Director Peter J. Manning sold 2,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock sold at an average price of $90.93 for a total transaction of $181,860.00. Following the sale, the director now owns 5,000 shares of the company, valued at $454,650. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed at this hyperlink. Company insiders own 4.20% of the company’s shares.
About Suraksha Insurance Group
Security Insurance Group, Inc. provides insurance for personal automobiles, commercial vehicles, and homeowners throughout the United States. The Company’s personal automobile policies provide coverage for personal injury and property damage to others, non-culpable bodily injury to the occupants of the insured/insured’s car, and the insured’s own vehicle for collision or other hazards. Provides coverage for physical damage
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