Safety Insurance Group, Inc. (SAFT) Position Lowered by State of Tennessee Treasury Department
State of Tennessee Treasury Department decreased its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,093 shares of the insurance provider’s stock after selling 764 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.08% of Safety Insurance Group worth $923,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new stake in Safety Insurance Group during the second quarter valued at approximately $211,000. State of Alaska Department of Revenue raised its stake in Safety Insurance Group by 46.3% during the second quarter. State of Alaska Department of Revenue now owns 3,979 shares of the insurance provider’s stock valued at $271,000 after buying an additional 1,259 shares in the last quarter. QS Investors LLC raised its stake in Safety Insurance Group by 45.0% during the second quarter. QS Investors LLC now owns 4,403 shares of the insurance provider’s stock valued at $301,000 after buying an additional 1,367 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Safety Insurance Group during the third quarter valued at approximately $329,000. Finally, Municipal Employees Retirement System of Michigan raised its stake in Safety Insurance Group by 112.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the insurance provider’s stock valued at $474,000 after buying an additional 3,680 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.
In other Safety Insurance Group news, Director Frederic H. Lindeberg sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $82.35, for a total transaction of $164,700.00. Following the sale, the director now owns 20,000 shares in the company, valued at $1,647,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.90% of the company’s stock.
Separately, Compass Point cut Safety Insurance Group from a “neutral” rating to a “sell” rating in a research note on Monday, October 16th.
Shares of Safety Insurance Group, Inc. (SAFT) opened at $82.25 on Monday. Safety Insurance Group, Inc. has a one year low of $65.75 and a one year high of $83.50. The stock has a market capitalization of $1,246.17, a P/E ratio of 19.82 and a beta of 0.80.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, November 30th. Safety Insurance Group’s payout ratio is currently 77.11%.
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Safety Insurance Group Profile
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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