Silver Lake Advisory LLC Sells 3,293 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Silver Lake Advisory LLC cut its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 8.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,866 shares of the insurance provider's stock after selling 3,293 shares during the period. Safety Insurance Group comprises approximately 1.3% of Silver Lake Advisory LLC's investment portfolio, making the stock its 29th biggest position. Silver Lake Advisory LLC owned approximately 0.25% of Safety Insurance Group worth $2,987,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Safety Insurance Group by 46.4% during the 4th quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider's stock worth $18,125,000 after buying an additional 69,750 shares during the period. GAMMA Investing LLC raised its stake in shares of Safety Insurance Group by 13,144.7% during the first quarter. GAMMA Investing LLC now owns 63,972 shares of the insurance provider's stock valued at $5,046,000 after acquiring an additional 63,489 shares during the last quarter. Norges Bank bought a new stake in shares of Safety Insurance Group in the fourth quarter worth $4,023,000. JPMorgan Chase & Co. grew its stake in shares of Safety Insurance Group by 21.4% in the fourth quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider's stock worth $17,498,000 after purchasing an additional 37,495 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Safety Insurance Group in the fourth quarter valued at $1,215,000. 81.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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 Stock Down 0.6%

Safety Insurance Group stock opened at $78.92 on Wednesday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 16.14 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 company has a debt-to-equity ratio of 0.04, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a 50 day moving average price of $79.38 and a two-hundred day moving average price of $79.08.

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

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Monday, June 2nd. Safety Insurance Group's dividend payout ratio is 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.

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