Principal Financial Group Inc. Trims Stake in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Principal Financial Group Inc. cut its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,930 shares of the insurance provider’s stock after selling 3,243 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Safety Insurance Group worth $5,719,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SAFT. Robeco Institutional Asset Management B.V. purchased a new stake in Safety Insurance Group during the third quarter worth $202,000. Dynamic Technology Lab Private Ltd purchased a new position in Safety Insurance Group during the third quarter worth approximately $213,000. Everence Capital Management Inc. purchased a new stake in shares of Safety Insurance Group in the third quarter valued at approximately $267,000. XTX Topco Ltd acquired a new position in shares of Safety Insurance Group during the 3rd quarter worth approximately $283,000. Finally, Creative Planning acquired a new position in shares of Safety Insurance Group during the 3rd quarter worth approximately $299,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Wall Street Analyst Weigh In

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

Safety Insurance Group Trading Up 0.3 %

Shares of Safety Insurance Group stock opened at $82.40 on Thursday. Safety Insurance Group, Inc. has a twelve month low of $71.99 and a twelve month high of $90.00. The firm has a market capitalization of $1.22 billion, a PE ratio of 16.32 and a beta of 0.19. The firm’s 50-day moving average price is $83.42 and its 200 day moving average price is $82.07.

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

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 given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Monday, December 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is 71.29%.

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.