New York State Teachers Retirement System Sells 1,623 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

New York State Teachers Retirement System trimmed its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 26,771 shares of the insurance provider’s stock after selling 1,623 shares during the quarter. New York State Teachers Retirement System’s holdings in Safety Insurance Group were worth $2,034,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in Safety Insurance Group by 0.7% in the third quarter. Alliancebernstein L.P. now owns 18,929 shares of the insurance provider’s stock valued at $1,544,000 after acquiring an additional 127 shares during the last quarter. Captrust Financial Advisors increased its stake in Safety Insurance Group by 5.5% in the third quarter. Captrust Financial Advisors now owns 2,606 shares of the insurance provider’s stock valued at $213,000 after acquiring an additional 136 shares during the last quarter. Inspire Investing LLC increased its stake in Safety Insurance Group by 3.2% in 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 during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Safety Insurance Group by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 18,647 shares of the insurance provider’s stock worth $1,417,000 after buying an additional 148 shares during the last quarter. Finally, Pathstone Family Office LLC grew its stake in shares of Safety Insurance Group by 4.7% during the third quarter. Pathstone Family Office LLC now owns 4,461 shares of the insurance provider’s stock worth $363,000 after buying an additional 201 shares during the last quarter. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Stock Performance

NASDAQ SAFT opened at $79.74 on Wednesday. The firm’s fifty day moving average price is $81.60 and its two-hundred day moving average price is $78.35. The stock has a market cap of $1.18 billion, a PE ratio of 62.79 and a beta of 0.19. Safety Insurance Group, Inc. has a fifty-two week low of $65.78 and a fifty-two week high of $88.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.38 and a current ratio of 0.38.

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

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $3.60 annualized dividend and a dividend yield of 4.51%. Safety Insurance Group’s dividend payout ratio is 283.47%.

Insider Buying and Selling

In related news, VP Stephen Albert Varga sold 900 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $79.35, for a total value of $71,415.00. Following the sale, the vice president now owns 28,465 shares of the company’s stock, valued at $2,258,697.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.