Tower Research Capital LLC TRC reduced its position in Safety Insurance Group, Inc. (NASDAQ:SAFT – Get Rating) by 82.5% in the third quarter, the company said in its most recent filing with the Securities & Exchange Commission. The fund owned 1,989 shares of the insurance provider after selling 9,408 shares during the period. Tower Research Capital LLC TRC’s holdings in Safety Insurance Group were worth $162,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have recently added to or reduced their holdings in SAFT. Strs Ohio increased its stake in Safety Insurance Group by 5.6% in the third quarter. Strs Ohio now owns 9,500 shares of the insurance provider, valued at $774,000, after buying another 500 shares last quarter. Kayne Anderson Rudnick Investment Management LLC added 0.3% to its stake in Safety Insurance Group during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 115,762 shares of the insurance provider, valued at $11,241,000, after purchasing an additional 374 shares during the period. The Texas Permanent School Fund increased its holding in Safety Insurance Group by 4.5% in the third quarter. The Texas Permanent School Fund now owns 10,605 shares of the insurance provider, valued at $865,000, after purchasing an additional 456 shares last quarter. Dean Investment Associates LLC increased its stake in Safety Insurance Group by 6.3% in the third quarter. Dean Investment Associates LLC now owns 52,760 shares of the insurance provider valued at $4,303,000 after purchasing an additional 3,108 shares during the period. Finally, the Oregon Public Employees Retirement Fund increased its position in shares of Safety Insurance Group by 4.2% in the third quarter. The Oregon Public Employees Retirement Fund now owns 4,892 shares of the insurance provider, valued at $399,000, after acquiring an additional 199 shares last quarter. 91.79% of the shares are currently owned by institutional investors and hedge funds.
insider activity
In related news, VP James Berry sold 438 shares of Safety Insurance Group in a transaction that took place on Wednesday, March 1st. The shares sold at an average price of $80.00 for a total transaction of $35,040.00. Following the transaction, the Vice President now owns 28,437 shares of the Company, valued at approximately $2,274,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed at this hyperlink. Insiders sold a total of 1,405 shares of the company’s stock valued at $112,749 over the past ninety days. 4.20% of the shares are owned by insiders.
Security insurance group shares down 0.1%
NASDAQ:SAFT opened at $78.38 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt to equity ratio of 0.04. Safety Insurance Group, Inc. has a 12-month low of $76.78 and a 12-month high of $99.75. The stock’s 50-day simple moving average is $84.36 and its 200-day simple moving average is $85.37. The company has a market cap of $1.16 billion, a P/E of 24.88 and a beta of 0.30.
Safety Insurance Group announces dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1 will receive a dividend of $0.90 per share. The ex-dividend date is Tuesday February 28th. That equates to an annualized dividend of $3.60 and a dividend yield of 4.59%. The Safety Insurance Group’s payout ratio is currently 114.29%.
Security Insurance Group Profile (Get Rating)
Safety Insurance Group, Inc is engaged in the administration and delivery of insurance services. It offers property and casualty insurance products covering commercial vehicles and fleets. The Company offers personal automobile, commercial automobile and home insurance. The company was founded in 1979 and is headquartered in Boston, MA.
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