Victory Capital Management Inc. Sells 47,041 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Victory Capital Management Inc. reduced its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 864,092 shares of the insurance provider's stock after selling 47,041 shares during the period. Victory Capital Management Inc. owned 5.80% of Safety Insurance Group worth $68,160,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SAFT. Signaturefd LLC boosted its holdings in Safety Insurance Group by 94.9% in 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 period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Safety Insurance Group in the 4th quarter valued at about $34,000. Parallel Advisors LLC boosted its holdings in Safety Insurance Group by 169.9% in the 1st 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 shares of Safety Insurance Group by 823.5% in the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock valued at $39,000 after buying an additional 420 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Safety Insurance Group by 67.9% in the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock valued at $64,000 after buying an additional 328 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Safety Insurance Group Price Performance

Shares of SAFT stock traded down $1.50 during trading hours on Monday, reaching $71.53. The stock had a trading volume of 89,162 shares, compared to its average volume of 59,369. The stock's fifty day simple moving average is $78.79 and its 200 day simple moving average is $78.12. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.04. 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 capitalization of $1.07 billion, a PE ratio of 16.23 and a beta of 0.26.

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 (EPS) for the quarter, beating the consensus estimate 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 company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend was Monday, June 2nd. Safety Insurance Group's 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.