Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 4.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 28,784 shares of the insurance provider’s stock after selling 1,246 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Safety Insurance Group were worth $2,064,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its position in shares of Safety Insurance Group by 0.7% during the 3rd quarter. Alliancebernstein L.P. now owns 18,929 shares of the insurance provider’s stock worth $1,544,000 after buying an additional 127 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Safety Insurance Group by 5.5% during the 3rd quarter. Captrust Financial Advisors now owns 2,606 shares of the insurance provider’s stock worth $213,000 after buying an additional 136 shares during the last quarter. CWM LLC lifted its position in shares of Safety Insurance Group by 1.1% during the 1st quarter. CWM LLC now owns 16,971 shares of the insurance provider’s stock worth $1,265,000 after buying an additional 186 shares during the last quarter. KBC Group NV lifted its position in shares of Safety Insurance Group by 18.0% during the 1st quarter. KBC Group NV now owns 1,291 shares of the insurance provider’s stock worth $96,000 after buying an additional 197 shares during the last quarter. Finally, Martingale Asset Management L P lifted its position in shares of Safety Insurance Group by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 15,280 shares of the insurance provider’s stock worth $1,139,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Safety Insurance Group in a research report on Thursday, October 5th. They set a “hold” rating for the company.

Insiders Place Their Bets

In related news, Director Dennis J. Langwell purchased 1,000 shares of the stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $68.90 per share, with a total value of $68,900.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $137,800. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Safety Insurance Group Stock Up 0.1 %

SAFT stock opened at $78.09 on Tuesday. The company has a fifty day moving average price of $70.89 and a 200 day moving average price of $71.24. Safety Insurance Group, Inc. has a 12 month low of $65.78 and a 12 month high of $92.61. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 37.01 and a beta of 0.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.39 and a quick ratio of 0.38.

Safety Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, November 30th. This represents a $3.60 dividend on an annualized basis and a yield of 4.61%. Safety Insurance Group’s payout ratio is currently 170.62%.

About Safety Insurance Group

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.