Raymond James Financial Services Advisors Inc. Trims Stock Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Raymond James Financial Services Advisors Inc. lowered its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,736 shares of the insurance provider’s stock after selling 1,244 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.11% of Safety Insurance Group worth $1,272,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in shares of Safety Insurance Group by 0.7% during the third quarter. Alliancebernstein L.P. now owns 18,929 shares of the insurance provider’s stock valued at $1,544,000 after purchasing an additional 127 shares during the period. Captrust Financial Advisors increased its position in shares of Safety Insurance Group by 5.5% during the third quarter. Captrust Financial Advisors now owns 2,606 shares of the insurance provider’s stock worth $213,000 after acquiring an additional 136 shares during the period. Inspire Investing LLC raised its stake in shares of Safety Insurance Group by 3.2% during the third quarter. Inspire Investing LLC now owns 4,513 shares of the insurance provider’s stock valued at $308,000 after acquiring an additional 141 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Safety Insurance Group by 0.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 18,647 shares of the insurance provider’s stock valued at $1,417,000 after purchasing an additional 148 shares during the period. Finally, Pathstone Family Office LLC grew its stake in Safety Insurance Group by 4.7% in the third quarter. Pathstone Family Office LLC now owns 4,461 shares of the insurance provider’s stock worth $363,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Stock Up 0.9 %

NASDAQ:SAFT opened at $78.10 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.38 and a quick ratio of 0.38. Safety Insurance Group, Inc. has a 1-year low of $65.78 and a 1-year high of $88.72. The company has a 50-day moving average of $81.72 and a 200 day moving average of $78.06. The firm has a market cap of $1.16 billion, a PE ratio of 61.50 and a beta of 0.19.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Tuesday, February 27th. The insurance provider reported $0.30 earnings per share for the quarter. The company had revenue of $258.40 million for the quarter. Safety Insurance Group had a return on equity of 1.56% and a net margin of 2.03%.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Thursday, February 29th. Safety Insurance Group’s payout ratio is currently 283.47%.

Insider Buying and Selling

In related news, VP Stephen Albert Varga sold 900 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $79.35, for a total transaction of $71,415.00. Following the completion of the sale, the vice president now owns 28,465 shares of the company’s stock, valued at $2,258,697.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, TheStreet raised Safety Insurance Group from a “c+” rating to a “b” rating in a research report on Tuesday, February 27th.

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.