The Manufacturers Life Insurance Company Sells 294 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

The Manufacturers Life Insurance Company trimmed its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,958 shares of the insurance provider’s stock after selling 294 shares during the period. The Manufacturers Life Insurance Company’s holdings in Safety Insurance Group were worth $573,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SAFT. Barclays PLC raised its stake in Safety Insurance Group by 5.8% during the 4th quarter. Barclays PLC now owns 25,851 shares of the insurance provider’s stock worth $2,129,000 after buying an additional 1,421 shares during the period. JPMorgan Chase & Co. raised its stake 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 worth $17,498,000 after buying an additional 37,495 shares during the period. EntryPoint Capital LLC acquired a new stake in Safety Insurance Group during the 4th quarter worth $304,000. AlphaQuest LLC raised its stake in Safety Insurance Group by 89.0% during the 4th quarter. AlphaQuest LLC now owns 8,751 shares of the insurance provider’s stock worth $721,000 after buying an additional 4,122 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Safety Insurance Group by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider’s stock worth $19,740,000 after buying an additional 6,542 shares during the period. 81.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th.

Safety Insurance Group Price Performance

SAFT opened at $83.13 on Friday. The business’s 50-day moving average price is $77.71 and its two-hundred day moving average price is $79.83. Safety Insurance Group, Inc. has a 1 year low of $70.71 and a 1 year high of $90.00. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.46 and a beta of 0.22.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The firm had revenue of $298.97 million for the quarter.

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Monday, June 2nd. Safety Insurance Group’s payout ratio is 73.62%.

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.