TD Asset Management Inc Sells 700 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

TD Asset Management Inc reduced its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,300 shares of the insurance provider’s stock after selling 700 shares during the quarter. TD Asset Management Inc owned 0.42% of Safety Insurance Group worth $4,674,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of Safety Insurance Group by 7,499.0% during the 4th quarter. International Assets Investment Management LLC now owns 15,198 shares of the insurance provider’s stock valued at $1,155,000 after purchasing an additional 14,998 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Safety Insurance Group by 12.7% during the 4th quarter. Russell Investments Group Ltd. now owns 18,109 shares of the insurance provider’s stock valued at $1,376,000 after purchasing an additional 2,042 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Safety Insurance Group by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 216,496 shares of the insurance provider’s stock valued at $16,452,000 after purchasing an additional 9,803 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Safety Insurance Group by 7.6% during the 4th quarter. Teacher Retirement System of Texas now owns 4,908 shares of the insurance provider’s stock valued at $373,000 after purchasing an additional 345 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Safety Insurance Group by 1,429.7% during the 4th quarter. Hsbc Holdings PLC now owns 71,361 shares of the insurance provider’s stock valued at $5,402,000 after purchasing an additional 66,696 shares during the last quarter. 81.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Safety Insurance Group news, VP Glenn Hiltpold sold 389 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.41, for a total value of $32,835.49. Following the completion of the sale, the vice president now owns 11,204 shares in the company, valued at approximately $945,729.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

Safety Insurance Group Price Performance

SAFT opened at $80.63 on Thursday. The stock’s 50 day simple moving average is $82.69 and its 200 day simple moving average is $80.29. Safety Insurance Group, Inc. has a 1 year low of $66.54 and a 1 year high of $89.46. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 23.24 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.12). Safety Insurance Group had a return on equity of 5.53% and a net margin of 4.96%. The company had revenue of $269.78 million for the quarter.

Safety Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.60 annualized dividend and a yield of 4.46%. Safety Insurance Group’s payout ratio is 103.75%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th.

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.