Principal Financial Group Inc. Sells 3,243 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Principal Financial Group Inc. decreased its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,930 shares of the insurance provider’s stock after selling 3,243 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Safety Insurance Group worth $5,719,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in Safety Insurance Group by 18.2% in the first quarter. Janney Montgomery Scott LLC now owns 4,019 shares of the insurance provider’s stock valued at $330,000 after buying an additional 619 shares during the period. SG Americas Securities LLC acquired a new position in shares of Safety Insurance Group in the 1st quarter valued at about $152,000. US Bancorp DE lifted its stake in shares of Safety Insurance Group by 4.1% in the 1st quarter. US Bancorp DE now owns 7,199 shares of the insurance provider’s stock valued at $592,000 after purchasing an additional 282 shares during the period. ProShare Advisors LLC boosted its position in shares of Safety Insurance Group by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 198 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Safety Insurance Group by 25.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 5,148 shares of the insurance provider’s stock worth $423,000 after purchasing an additional 1,045 shares during the period. 81.04% of the stock is owned by institutional investors.

Insider Activity at Safety Insurance Group

In other Safety Insurance Group news, VP Glenn Hiltpold sold 389 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.41, for a total transaction of $32,835.49. Following the completion of the sale, the vice president now directly owns 11,204 shares of the company’s stock, valued at approximately $945,729.64. The trade was a 3.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Safety Insurance Group Stock Down 0.4 %

Shares of NASDAQ SAFT opened at $83.66 on Thursday. The firm has a market cap of $1.24 billion, a PE ratio of 16.57 and a beta of 0.17. The company’s fifty day simple moving average is $81.98 and its 200 day simple moving average is $80.87. Safety Insurance Group, Inc. has a 12-month low of $71.99 and a 12-month high of $90.00.

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

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Monday, December 2nd. Safety Insurance Group’s dividend payout ratio is currently 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.