Bank of New York Mellon Corp Has $16.46 Million Stock Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Bank of New York Mellon Corp reduced its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 208,656 shares of the insurance provider's stock after selling 11,304 shares during the quarter. Bank of New York Mellon Corp owned 1.40% of Safety Insurance Group worth $16,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC boosted its stake in Safety Insurance Group by 94.9% during the 4th quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 150 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Safety Insurance Group during the fourth quarter valued at about $34,000. Parallel Advisors LLC increased its holdings in shares of Safety Insurance Group by 169.9% in the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock worth $35,000 after purchasing an additional 282 shares during the last quarter. Sterling Capital Management LLC grew its position in Safety Insurance Group by 823.5% in the fourth quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock worth $39,000 after acquiring an additional 420 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Safety Insurance Group by 67.9% in the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock worth $64,000 after acquiring an additional 328 shares in the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Safety Insurance Group Stock Up 1.1%

Shares of NASDAQ:SAFT traded up $0.81 during trading on Tuesday, hitting $72.34. The company's stock had a trading volume of 65,334 shares, compared to its average volume of 59,387. The business has a 50 day moving average price of $78.60 and a two-hundred day moving average price of $78.04. The company has a market capitalization of $1.08 billion, a PE ratio of 14.79 and a beta of 0.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.42 and a current ratio of 0.42. Safety Insurance Group, Inc. has a fifty-two week low of $70.71 and a fifty-two week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.90 per share. The ex-dividend date was Monday, June 2nd. This represents a $3.60 annualized dividend and a dividend yield of 4.98%. Safety Insurance Group's dividend payout ratio is presently 73.62%.

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.