TD Asset Management Inc Lowers Stock Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

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 reduced its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,200 shares of the insurance provider's stock after selling 6,800 shares during the period. TD Asset Management Inc owned 0.34% of Safety Insurance Group worth $3,960,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Safety Insurance Group in the fourth quarter valued at approximately $34,000. Parallel Advisors LLC raised its position in Safety Insurance Group by 169.9% in the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 282 shares during the period. Sterling Capital Management LLC raised 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 valued at $39,000 after purchasing an additional 420 shares during the period. GAMMA Investing LLC raised 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 valued at $64,000 after purchasing an additional 328 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Safety Insurance Group in the fourth quarter valued at $181,000. 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 research report on Thursday, May 22nd.

Safety Insurance Group Trading Down 1.5%

NASDAQ:SAFT traded down $1.05 on Friday, reaching $69.30. The company's stock had a trading volume of 80,148 shares, compared to its average volume of 78,590. 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 stock has a 50 day moving average price of $76.52 and a 200 day moving average price of $77.50. Safety Insurance Group, Inc. has a 12-month low of $69.05 and a 12-month high of $90.00. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 14.17 and a beta of 0.26.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced 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. The business had revenue of $298.97 million for the quarter. Safety Insurance Group had a return on equity of 7.99% and a net margin of 6.29%.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.60 annualized dividend and a dividend yield of 5.2%. Safety Insurance Group's dividend payout ratio (DPR) is presently 73.62%.

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.