Bank of New York Mellon Corp Has $18.13 Million Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Bank of New York Mellon Corp boosted its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 46.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,960 shares of the insurance provider’s stock after purchasing an additional 69,750 shares during the period. Bank of New York Mellon Corp owned 1.48% of Safety Insurance Group worth $18,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV increased its holdings in Safety Insurance Group by 52.2% in the 4th quarter. KBC Group NV now owns 1,000 shares of the insurance provider’s stock worth $82,000 after purchasing an additional 343 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Safety Insurance Group in the third quarter valued at about $213,000. Ieq Capital LLC acquired a new stake in shares of Safety Insurance Group in the fourth quarter valued at about $279,000. XTX Topco Ltd acquired a new stake in shares of Safety Insurance Group in the third quarter valued at about $283,000. Finally, Quest Partners LLC acquired a new stake in shares of Safety Insurance Group in the third quarter valued at about $379,000. Institutional investors and hedge funds own 81.04% of the company’s stock.

Safety Insurance Group Price Performance

Shares of Safety Insurance Group stock opened at $76.16 on Wednesday. Safety Insurance Group, Inc. has a one year low of $73.38 and a one year high of $90.00. The stock’s 50-day moving average is $78.38 and its 200 day moving average is $81.47. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 15.08 and a beta of 0.13.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The firm had revenue of $286.72 million during the quarter.

Safety Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Monday, March 3rd. Safety Insurance Group’s payout ratio is 75.47%.

Analysts Set New Price Targets

Separately, StockNews.com cut Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th.

About Safety Insurance Group

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.