Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,101 shares of the insurance provider’s stock after selling 845 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Safety Insurance Group were worth $908,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Illinois Municipal Retirement Fund raised its stake in shares of Safety Insurance Group by 1.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 8,526 shares of the insurance provider’s stock worth $701,000 after buying an additional 154 shares during the last quarter. ProShare Advisors LLC raised its position in Safety Insurance Group by 7.3% during the first quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock worth $239,000 after acquiring an additional 198 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Safety Insurance Group by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the insurance provider’s stock worth $563,000 after acquiring an additional 200 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Safety Insurance Group by 458.9% in the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 257 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Safety Insurance Group by 4.1% in the first quarter. US Bancorp DE now owns 7,199 shares of the insurance provider’s stock valued at $592,000 after purchasing an additional 282 shares during the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

Safety Insurance Group Stock Down 1.2 %

SAFT opened at $81.08 on Friday. The firm has a market cap of $1.20 billion, a P/E ratio of 23.37 and a beta of 0.17. The business’s fifty day simple moving average is $83.51 and its 200 day simple moving average is $80.29. Safety Insurance Group, Inc. has a 52 week low of $66.93 and a 52 week high of $89.46.

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

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Tuesday, September 3rd. Safety Insurance Group’s dividend payout ratio is presently 103.75%.

Insider Transactions at Safety Insurance Group

In related news, VP Glenn Hiltpold sold 389 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.41, for a total transaction of $32,835.49. Following the transaction, the vice president now directly owns 11,204 shares in the company, valued at $945,729.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

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 Company 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.