Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Safety Insurance Group by 11.9%, selling 6,800 shares, and currently holds 50,200 shares valued at approximately $3.96 million.
• Safety Insurance Group has announced a quarterly dividend of $0.90 per share, resulting in an annualized yield of 5.2% and a payout ratio of 73.62%.
• Analysts have upgraded Safety Insurance Group from a "hold" to a "buy" rating, reflecting positive sentiment towards the company's future performance.

TD Asset Management Inc lessened its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,200 shares of the insurance provider's stock after selling 6,800 shares during the period. TD Asset Management Inc owned about 0.34% of Safety Insurance Group worth $3,960,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Safety Insurance Group by 21.4% in the 4th 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. Northern Trust Corp raised its stake in Safety Insurance Group by 6.9% during the 4th quarter. Northern Trust Corp now owns 166,223 shares of the insurance provider's stock valued at $13,697,000 after acquiring an additional 10,768 shares in the last quarter. Principal Financial Group Inc. raised its stake in Safety Insurance Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider's stock valued at $5,827,000 after acquiring an additional 1,926 shares in the last quarter. American Century Companies Inc. raised its stake in Safety Insurance Group by 0.5% during the 4th quarter. American Century Companies Inc. now owns 67,475 shares of the insurance provider's stock valued at $5,560,000 after acquiring an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Safety Insurance Group by 13,144.7% during the 1st 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 in the last quarter. Institutional investors own 81.04% of the company's stock.

Analyst Ratings Changes

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 Performance

Safety Insurance Group stock traded up $0.43 during mid-day trading on Tuesday, hitting $70.47. 12,575 shares of the company's stock traded hands, compared to its average volume of 63,399. Safety Insurance Group, Inc. has a one year low of $68.76 and a one year high of $90.00. The company has a market cap of $1.05 billion, a PE ratio of 14.42 and a beta of 0.26. The firm has a 50 day moving average price of $76.52 and a 200 day moving average price of $77.48. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.04.

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, beating 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 company had revenue of $298.97 million for the quarter.

Safety Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given 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 5.1%. Safety Insurance Group's dividend payout ratio (DPR) is 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.