Bank of New York Mellon Corp Grows Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Bank of New York Mellon Corp raised its position in Safety Insurance Group, Inc. (NASDAQ:SAFT – Get Rating) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,857,262 shares of the insurance provider’s stock after purchasing an additional 7,039 shares during the quarter. Bank of New York Mellon Corp owned 12.60% of Safety Insurance Group worth $151,478,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Safety Insurance Group by 1.2% during the 3rd quarter. BlackRock Inc. now owns 2,155,884 shares of the insurance provider’s stock valued at $175,834,000 after buying an additional 24,611 shares during the period. Vanguard Group Inc. raised its holdings in shares of Safety Insurance Group by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,620,184 shares of the insurance provider’s stock valued at $132,143,000 after buying an additional 49,842 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Safety Insurance Group by 28.7% during the 3rd quarter. Victory Capital Management Inc. now owns 824,037 shares of the insurance provider’s stock valued at $67,208,000 after buying an additional 183,909 shares during the period. State Street Corp raised its holdings in shares of Safety Insurance Group by 1.6% during the 3rd quarter. State Street Corp now owns 763,881 shares of the insurance provider’s stock valued at $62,302,000 after buying an additional 11,874 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Safety Insurance Group by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 706,384 shares of the insurance provider’s stock valued at $64,175,000 after buying an additional 9,265 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Safety Insurance Group

In other Safety Insurance Group news, VP James Berry sold 328 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $81.30, for a total transaction of $26,666.40. Following the completion of the sale, the vice president now owns 29,233 shares in the company, valued at approximately $2,376,642.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 1,405 shares of company stock worth $112,749 in the last 90 days. 4.20% of the stock is owned by corporate insiders.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT opened at $72.54 on Friday. Safety Insurance Group, Inc. has a one year low of $71.33 and a one year high of $99.75. The business’s 50-day simple moving average is $82.99 and its 200 day simple moving average is $84.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $1.07 billion, a P/E ratio of 23.03 and a beta of 0.30.

Safety Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, February 28th. This represents a $3.60 dividend on an annualized basis and a yield of 4.96%. Safety Insurance Group’s dividend payout ratio (DPR) is presently 114.29%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Safety Insurance Group in a report on Thursday. They set a “hold” rating on the stock.

Safety Insurance Group Profile

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Safety Insurance Group, Inc engages in the management and provision of insurance services. It offers property and casualty insurance products which include commercial vehicles and fleets. The firm provides private passenger automobile, commercial automobile and homeowners insurance. The company was founded in 1979 and is headquartered in Boston, MA.