Silver Lake Advisory LLC Cuts Stock Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Silver Lake Advisory LLC cut its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 41,159 shares of the insurance provider’s stock after selling 1,211 shares during the quarter. Safety Insurance Group makes up about 1.5% of Silver Lake Advisory LLC’s investment portfolio, making the stock its 26th biggest position. Silver Lake Advisory LLC’s holdings in Safety Insurance Group were worth $3,392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SAFT. JPMorgan Chase & Co. increased its position in shares of Safety Insurance Group by 5.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 174,859 shares of the insurance provider’s stock valued at $14,300,000 after purchasing an additional 9,531 shares during the last quarter. Geode Capital Management LLC increased its holdings in Safety Insurance Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 355,390 shares of the insurance provider’s stock valued at $29,070,000 after buying an additional 2,435 shares during the last quarter. Barclays PLC raised its stake in Safety Insurance Group by 348.8% in the third quarter. Barclays PLC now owns 24,430 shares of the insurance provider’s stock valued at $1,997,000 after buying an additional 18,987 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Safety Insurance Group during the 3rd quarter worth about $723,000. Finally, XTX Topco Ltd acquired a new position in shares of Safety Insurance Group during the 3rd quarter worth about $283,000. 81.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th.

Safety Insurance Group Trading Up 0.1 %

Shares of Safety Insurance Group stock opened at $77.14 on Friday. The company has a fifty day simple moving average of $82.75 and a 200-day simple moving average of $82.53. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 15.28 and a beta of 0.20. Safety Insurance Group, Inc. has a 12-month low of $73.38 and a 12-month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.30). The business had revenue of $295.28 million during the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.60 annualized dividend and a dividend yield of 4.67%. Safety Insurance Group’s dividend payout ratio (DPR) is 71.29%.

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.