Wells Fargo & Company MN Buys 1,685 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Wells Fargo & Company MN grew its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,372 shares of the insurance provider’s stock after purchasing an additional 1,685 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Safety Insurance Group worth $772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SAFT. TimesSquare Capital Management LLC boosted its position in Safety Insurance Group by 17.5% during the 4th quarter. TimesSquare Capital Management LLC now owns 602,449 shares of the insurance provider’s stock valued at $49,642,000 after buying an additional 89,561 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Safety Insurance Group by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider’s stock worth $19,740,000 after purchasing an additional 6,542 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Safety Insurance Group by 46.4% in the fourth quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider’s stock worth $18,125,000 after purchasing an additional 69,750 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Safety Insurance Group by 21.4% during the 4th quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider’s stock valued at $17,498,000 after purchasing an additional 37,495 shares during the period. Finally, Principal Financial Group Inc. raised its position in Safety Insurance Group by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 71,952 shares of the insurance provider’s stock valued at $5,929,000 after purchasing an additional 2,022 shares during the last quarter. Institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Trading Down 0.4 %

Shares of Safety Insurance Group stock opened at $76.21 on Friday. Safety Insurance Group, Inc. has a 12-month low of $70.71 and a 12-month high of $90.00. The company has a market cap of $1.14 billion, a P/E ratio of 15.09 and a beta of 0.19. The company’s fifty day simple moving average is $77.00 and its two-hundred day simple moving average is $79.96.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%. The company had revenue of $286.72 million for the quarter.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Monday, March 3rd. Safety Insurance Group’s payout ratio is presently 75.47%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Safety Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, 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.