Exchange Traded Concepts LLC Sells 10,712 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Exchange Traded Concepts LLC reduced its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 50.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,444 shares of the insurance provider's stock after selling 10,712 shares during the period. Exchange Traded Concepts LLC owned approximately 0.07% of Safety Insurance Group worth $824,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Barclays PLC boosted its holdings in shares of Safety Insurance Group by 5.8% in the fourth quarter. Barclays PLC now owns 25,851 shares of the insurance provider's stock worth $2,129,000 after acquiring an additional 1,421 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Safety Insurance Group during the fourth quarter valued at $655,000. Two Sigma Investments LP bought a new stake in Safety Insurance Group during the fourth quarter valued at $1,004,000. Millennium Management LLC boosted its stake in Safety Insurance Group by 144.1% during the fourth quarter. Millennium Management LLC now owns 22,281 shares of the insurance provider's stock valued at $1,836,000 after buying an additional 13,152 shares during the period. Finally, Two Sigma Advisers LP bought a new stake in Safety Insurance Group during the fourth quarter valued at $305,000. 81.04% of the stock is owned by institutional investors.

Safety Insurance Group Trading Down 0.6%

Shares of SAFT stock opened at $77.88 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $79.25 and a two-hundred day moving average price of $79.33. Safety Insurance Group, Inc. has a 12-month low of $70.71 and a 12-month high of $90.00. The firm has a market cap of $1.16 billion, a P/E ratio of 15.93 and a beta of 0.27.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.03. Safety Insurance Group had a return on equity of 7.99% and a net margin of 6.29%. The firm had revenue of $298.97 million during the quarter.

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.62%. The ex-dividend date was Monday, June 2nd. Safety Insurance Group's dividend payout ratio (DPR) is currently 73.62%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Safety Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

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.

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