New York State Teachers Retirement System Lowers Holdings in Safety Insurance Group, Inc. $SAFT

New York State Teachers Retirement System lowered its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 73.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,952 shares of the insurance provider’s stock after selling 14,019 shares during the quarter. New York State Teachers Retirement System’s holdings in Safety Insurance Group were worth $360,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Inspire Investing LLC lifted its holdings in shares of Safety Insurance Group by 17.1% in the 1st quarter. Inspire Investing LLC now owns 7,023 shares of the insurance provider’s stock worth $510,000 after buying an additional 1,027 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Safety Insurance Group during the first quarter valued at $479,000. Assenagon Asset Management S.A. bought a new stake in shares of Safety Insurance Group in the first quarter valued at about $1,391,000. Hsbc Holdings PLC bought a new stake in shares of Safety Insurance Group in the fourth quarter valued at about $412,000. Finally, Bayban purchased a new stake in Safety Insurance Group in the fourth quarter worth about $31,000. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Corp Srb sold 2,650 shares of Safety Insurance Group stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $76.51, for a total value of $202,751.50. Following the transaction, the insider owned 1,792,005 shares of the company’s stock, valued at $137,106,302.55. The trade was a 0.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by insiders.

Safety Insurance Group Trading Down 1.5%

Shares of NASDAQ SAFT opened at $74.82 on Wednesday. Safety Insurance Group, Inc. has a 1-year low of $67.04 and a 1-year high of $81.49. The business has a fifty day moving average price of $72.57 and a 200 day moving average price of $74.78. The stock has a market capitalization of $1.10 billion, a P/E ratio of 17.69 and a beta of 0.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($2.17). The company had revenue of $314.67 million during the quarter, compared to analysts’ expectations of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. Equities research analysts expect that Safety Insurance Group, Inc. will post 4.75 EPS for the current fiscal year.

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Monday, June 1st. Safety Insurance Group’s dividend payout ratio (DPR) is currently 87.00%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SAFT. Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a report on Friday, May 29th. Zacks Research raised shares of Safety Insurance Group to a “hold” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.