Allspring Global Investments Holdings LLC Reduces Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Allspring Global Investments Holdings LLC lessened its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 23.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,942 shares of the insurance provider’s stock after selling 4,702 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Safety Insurance Group were worth $1,135,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc purchased a new stake in shares of Safety Insurance Group during the third quarter valued at approximately $68,000. SG Americas Securities LLC purchased a new stake in Safety Insurance Group in the third quarter worth $299,000. Inspire Investing LLC lifted 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 worth $308,000 after acquiring an additional 141 shares during the period. Teacher Retirement System of Texas lifted its stake in Safety Insurance Group by 7.5% in the third quarter. Teacher Retirement System of Texas now owns 4,563 shares of the insurance provider’s stock worth $311,000 after acquiring an additional 319 shares during the period. Finally, WINTON GROUP Ltd lifted its stake in Safety Insurance Group by 58.9% in the third quarter. WINTON GROUP Ltd now owns 4,966 shares of the insurance provider’s stock worth $339,000 after acquiring an additional 1,840 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Insiders Place Their Bets

In other Safety Insurance Group news, VP Stephen Albert Varga sold 900 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $79.35, for a total value of $71,415.00. Following the completion of the transaction, the vice president now owns 28,465 shares in the company, valued at $2,258,697.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Safety Insurance Group Price Performance

SAFT opened at $82.06 on Wednesday. The stock has a fifty day simple moving average of $81.35 and a two-hundred day simple moving average of $78.76. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 64.61 and a beta of 0.19. Safety Insurance Group, Inc. has a 12-month low of $65.78 and a 12-month high of $88.72.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Tuesday, February 27th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter. The business had revenue of $258.40 million during 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. Shareholders of record on Friday, March 1st were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $3.60 dividend on an annualized basis and a yield of 4.39%. Safety Insurance Group’s dividend payout ratio (DPR) is 283.46%.

Wall Street Analysts Forecast Growth

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

Safety Insurance Group Company 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.