City State Bank Decreases Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

City State Bank trimmed its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 17.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 595 shares of the insurance provider’s stock after selling 130 shares during the period. City State Bank’s holdings in Safety Insurance Group were worth $49,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SAFT. WINTON GROUP Ltd lifted its holdings in Safety Insurance Group by 4.8% during the second quarter. WINTON GROUP Ltd now owns 11,771 shares of the insurance provider’s stock valued at $883,000 after purchasing an additional 537 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Safety Insurance Group by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 756,633 shares of the insurance provider’s stock valued at $56,770,000 after buying an additional 11,146 shares during the last quarter. Inspire Investing LLC raised its position in shares of Safety Insurance Group by 7.4% in the second quarter. Inspire Investing LLC now owns 4,658 shares of the insurance provider’s stock valued at $349,000 after buying an additional 319 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Safety Insurance Group by 7.8% in the second quarter. Public Sector Pension Investment Board now owns 32,687 shares of the insurance provider’s stock valued at $2,453,000 after buying an additional 2,363 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Safety Insurance Group in the second quarter valued at about $980,000. 81.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Safety Insurance Group Stock Up 0.2 %

Shares of NASDAQ SAFT opened at $78.07 on Tuesday. The firm has a 50-day simple moving average of $83.65 and a 200-day simple moving average of $82.38. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.46 and a beta of 0.20. Safety Insurance Group, Inc. has a 52 week low of $73.38 and a 52 week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Tuesday, November 5th. The insurance provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.30). Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%. The business had revenue of $295.28 million during the quarter.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Monday, December 2nd. Safety Insurance Group’s payout ratio is currently 71.29%.

Safety Insurance Group Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile, and homeowner insurance in 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.