State of Tennessee Treasury Department reduced its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,768 shares of the insurance provider’s stock after selling 1,131 shares during the period. State of Tennessee Treasury Department’s holdings in Safety Insurance Group were worth $828,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SAFT. SG Americas Securities LLC acquired a new stake in Safety Insurance Group during the 1st quarter worth about $192,000. Xact Kapitalforvaltning AB acquired a new stake in Safety Insurance Group during the 4th quarter worth about $230,000. First Republic Investment Management Inc. acquired a new stake in Safety Insurance Group during the 4th quarter worth about $322,000. Teacher Retirement System of Texas acquired a new stake in Safety Insurance Group during the 4th quarter worth about $403,000. Finally, Jefferies Group LLC grew its holdings in Safety Insurance Group by 56.8% during the 4th quarter. Jefferies Group LLC now owns 5,957 shares of the insurance provider’s stock worth $479,000 after acquiring an additional 2,157 shares during the period. Hedge funds and other institutional investors own 79.41% of the company’s stock.
Shares of Safety Insurance Group opened at $86.85 on Friday, MarketBeat.com reports. Safety Insurance Group, Inc. has a 1-year low of $67.20 and a 1-year high of $89.15. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 22.15 and a beta of 0.68.
Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, May 2nd. The insurance provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.17). Safety Insurance Group had a return on equity of 8.80% and a net margin of 7.05%. The business had revenue of $209.72 million for the quarter.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were paid a $0.80 dividend. The ex-dividend date was Thursday, May 31st. This represents a $3.20 annualized dividend and a dividend yield of 3.68%.
A number of analysts have weighed in on SAFT shares. BidaskClub upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 21st. Compass Point upgraded Safety Insurance Group from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Thursday, March 8th. Finally, ValuEngine upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd.
In other news, Director Frederic H. Lindeberg sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $83.17, for a total value of $166,340.00. Following the completion of the sale, the director now directly owns 18,000 shares in the company, valued at approximately $1,497,060. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.90% of the company’s stock.
About Safety Insurance Group
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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