Bank of New York Mellon Corp lowered its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 4.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 371,792 shares of the insurance provider’s stock after selling 17,844 shares during the quarter. Bank of New York Mellon Corp owned about 2.44% of Safety Insurance Group worth $29,893,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SAFT. The Manufacturers Life Insurance Company raised its position in shares of Safety Insurance Group by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,048 shares of the insurance provider’s stock valued at $755,000 after acquiring an additional 171 shares in the last quarter. Aperio Group LLC increased its position in Safety Insurance Group by 13.8% in the third quarter. Aperio Group LLC now owns 9,463 shares of the insurance provider’s stock worth $722,000 after buying an additional 1,148 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Safety Insurance Group by 62.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 10,345 shares of the insurance provider’s stock worth $789,000 after buying an additional 3,970 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Safety Insurance Group in the third quarter worth $329,000. Finally, Principal Financial Group Inc. increased its position in Safety Insurance Group by 5.0% in the third quarter. Principal Financial Group Inc. now owns 125,600 shares of the insurance provider’s stock worth $9,583,000 after buying an additional 5,960 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.
Shares of NASDAQ SAFT traded down $0.60 during mid-day trading on Friday, hitting $76.40. 21,997 shares of the company traded hands, compared to its average volume of 41,444. Safety Insurance Group, Inc. has a 1 year low of $65.75 and a 1 year high of $84.00. The company has a market cap of $1,162.73, a price-to-earnings ratio of 18.73 and a beta of 0.68.
Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Monday, February 26th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $213.57 million during the quarter. Safety Insurance Group had a return on equity of 8.99% and a net margin of 7.43%.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Wednesday, February 28th.
Several brokerages have weighed in on SAFT. BidaskClub raised Safety Insurance Group from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Compass Point raised Safety Insurance Group from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a research note on Thursday, March 8th.
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Safety Insurance Group Profile
Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.
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