Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,101 shares of the insurance provider’s stock after selling 845 shares during the period. Texas Permanent School Fund Corp owned 0.08% of Safety Insurance Group worth $908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in shares of Safety Insurance Group by 458.9% in the 1st quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 257 shares during the period. SG Americas Securities LLC purchased a new position in Safety Insurance Group during the 1st quarter worth $152,000. Mutual of America Capital Management LLC acquired a new position in Safety Insurance Group in the first quarter valued at $210,000. ProShare Advisors LLC raised its holdings in shares of Safety Insurance Group by 7.3% in the first quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after buying an additional 198 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Safety Insurance Group during the first quarter worth about $288,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Price Performance

Safety Insurance Group stock opened at $81.08 on Friday. The business has a 50 day simple moving average of $83.51 and a 200-day simple moving average of $80.29. Safety Insurance Group, Inc. has a 12 month low of $66.93 and a 12 month high of $89.46. The stock has a market capitalization of $1.20 billion, a PE ratio of 23.37 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.12). The firm had revenue of $269.78 million for the quarter. Safety Insurance Group had a return on equity of 5.53% and a net margin of 4.96%.

Safety Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Tuesday, September 3rd. Safety Insurance Group’s dividend payout ratio (DPR) is 103.75%.

Insider Activity

In related news, VP Glenn Hiltpold sold 389 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 11,204 shares of the company’s stock, valued at $945,729.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th.

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.