Morgan Stanley Sells 16,136 Shares of Safety Insurance Group, Inc. (SAFT)
Morgan Stanley cut its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 19.8% during the first quarter, Holdings Channel reports. The fund owned 65,529 shares of the insurance provider’s stock after selling 16,136 shares during the period. Morgan Stanley’s holdings in Safety Insurance Group were worth $4,593,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Guggenheim Capital LLC raised its position in Safety Insurance Group by 188.5% in the fourth quarter. Guggenheim Capital LLC now owns 18,101 shares of the insurance provider’s stock valued at $1,334,000 after buying an additional 11,826 shares during the last quarter. Norges Bank acquired a new position in Safety Insurance Group during the fourth quarter valued at approximately $13,843,000. Teachers Advisors LLC boosted its stake in shares of Safety Insurance Group by 1.5% in the fourth quarter. Teachers Advisors LLC now owns 23,505 shares of the insurance provider’s stock valued at $1,732,000 after buying an additional 338 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Safety Insurance Group during the fourth quarter valued at $373,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Safety Insurance Group by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 5,800 shares of the insurance provider’s stock valued at $407,000 after buying an additional 100 shares during the period. 79.47% of the stock is owned by institutional investors and hedge funds.
Shares of Safety Insurance Group, Inc. (SAFT) traded down 0.49% during mid-day trading on Friday, reaching $70.60. 4,234 shares of the company traded hands. The company has a market capitalization of $1.07 billion, a P/E ratio of 16.81 and a beta of 0.77. The firm’s 50 day moving average price is $69.81 and its 200-day moving average price is $69.91. Safety Insurance Group, Inc. has a 52-week low of $64.86 and a 52-week high of $75.05.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Wednesday, August 30th. This is a boost from Safety Insurance Group’s previous quarterly dividend of $0.70. Safety Insurance Group’s dividend payout ratio is currently 66.67%.
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Separately, BidaskClub raised shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a report on Friday, June 30th.
About Safety Insurance Group
Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.
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