Exchange Traded Concepts LLC Cuts Stake in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Exchange Traded Concepts LLC cut its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 50.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,444 shares of the insurance provider's stock after selling 10,712 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.07% of Safety Insurance Group worth $824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SAFT. Rhumbline Advisers raised its holdings in shares of Safety Insurance Group by 0.9% in the fourth quarter. Rhumbline Advisers now owns 46,207 shares of the insurance provider's stock valued at $3,807,000 after purchasing an additional 413 shares during the last quarter. Principal Financial Group Inc. grew its position in Safety Insurance Group by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 71,952 shares of the insurance provider's stock valued at $5,929,000 after buying an additional 2,022 shares during the period. Ieq Capital LLC bought a new position in Safety Insurance Group during the fourth quarter valued at about $279,000. Handelsbanken Fonder AB grew its position in Safety Insurance Group by 14.1% during the fourth quarter. Handelsbanken Fonder AB now owns 4,858 shares of the insurance provider's stock valued at $400,000 after buying an additional 600 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Safety Insurance Group by 46.4% during the fourth quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider's stock valued at $18,125,000 after buying an additional 69,750 shares during the period. 81.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Safety Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Safety Insurance Group Stock Performance

NASDAQ:SAFT traded up $1.50 on Monday, reaching $79.38. 50,668 shares of the company's stock were exchanged, compared to its average volume of 56,076. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 16.23 and a beta of 0.27. Safety Insurance Group, Inc. has a 52 week low of $70.71 and a 52 week high of $90.00. The stock has a fifty day simple moving average of $79.33 and a 200-day simple moving average of $79.13.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.03. Safety Insurance Group had a net margin of 6.29% and a return on equity of 7.99%. The company had revenue of $298.97 million during the quarter.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.90 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.60 annualized dividend and a yield of 4.54%. Safety Insurance Group's dividend payout ratio (DPR) is presently 73.62%.

About Safety Insurance Group

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.