Safety Insurance Group, Inc. (NASDAQ:SAFT) Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 5.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 208,656 shares of the insurance provider’s stock after selling 11,304 shares during the quarter. Bank of New York Mellon Corp owned about 1.40% of Safety Insurance Group worth $16,459,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in Safety Insurance Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider’s stock worth $5,827,000 after acquiring an additional 1,926 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Safety Insurance Group by 52.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,137 shares of the insurance provider’s stock valued at $1,431,000 after acquiring an additional 6,223 shares in the last quarter. Diversified Trust Co bought a new position in shares of Safety Insurance Group in the first quarter valued at approximately $430,000. Assenagon Asset Management S.A. bought a new position in shares of Safety Insurance Group in the first quarter valued at approximately $927,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Safety Insurance Group by 67.9% in the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 328 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd.

Safety Insurance Group Trading Up 0.3%

Safety Insurance Group stock opened at $73.03 on Friday. The firm has a 50 day simple moving average of $78.90 and a 200-day simple moving average of $78.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $1.09 billion, a PE ratio of 14.93 and a beta of 0.26. Safety Insurance Group, Inc. has a 12-month low of $70.71 and a 12-month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data 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. The business had revenue of $298.97 million during the quarter. Safety Insurance Group had a net margin of 6.29% and a return on equity of 7.99%.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend was 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.