Safety Insurance Group, Inc. (NASDAQ:SAFT) Stake Lowered by Amalgamated Bank

Amalgamated Bank cut its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,383 shares of the insurance provider’s stock after selling 130 shares during the quarter. Amalgamated Bank’s holdings in Safety Insurance Group were worth $358,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SAFT. Robeco Institutional Asset Management B.V. bought a new position in Safety Insurance Group in the 3rd quarter worth approximately $202,000. International Assets Investment Management LLC grew its holdings in Safety Insurance Group by 8,078.0% in the 3rd quarter. International Assets Investment Management LLC now owns 16,356 shares of the insurance provider’s stock worth $1,338,000 after buying an additional 16,156 shares in the last quarter. Everence Capital Management Inc. bought a new position in Safety Insurance Group in the 3rd quarter worth approximately $267,000. Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in Safety Insurance Group by 17.4% in the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 13,500 shares of the insurance provider’s stock worth $1,104,000 after buying an additional 2,000 shares in the last quarter. Finally, Creative Planning acquired a new stake in Safety Insurance Group in the third quarter worth approximately $299,000. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT opened at $84.86 on Monday. Safety Insurance Group, Inc. has a one year low of $71.99 and a one year high of $90.00. The stock has a fifty day moving average of $81.91 and a 200-day moving average of $80.81. The company has a market capitalization of $1.26 billion, a PE ratio of 16.80 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data 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 company had revenue of $295.28 million for 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 will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.90 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.24%. Safety Insurance Group’s payout ratio is currently 71.29%.

Insider Activity

In other news, VP Glenn Hiltpold sold 389 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.41, for a total value of $32,835.49. Following the transaction, the vice president now directly owns 11,204 shares of the company’s stock, valued at approximately $945,729.64. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Safety Insurance Group 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.