First Manhattan CO. LLC. Reduces Stock Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

First Manhattan CO. LLC. decreased its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 23.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,800 shares of the insurance provider's stock after selling 3,900 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.09% of Safety Insurance Group worth $1,055,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SAFT. TimesSquare Capital Management LLC grew its holdings in Safety Insurance Group by 17.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 602,449 shares of the insurance provider's stock valued at $49,642,000 after buying an additional 89,561 shares during the period. Bank of New York Mellon Corp grew its holdings in Safety Insurance Group by 46.4% in the 4th quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider's stock valued at $18,125,000 after buying an additional 69,750 shares during the period. Norges Bank purchased a new stake in Safety Insurance Group in the 4th quarter valued at about $4,023,000. JPMorgan Chase & Co. grew its holdings in Safety Insurance Group by 21.4% in the 4th quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider's stock valued at $17,498,000 after buying an additional 37,495 shares during the period. Finally, Barclays PLC grew its holdings in Safety Insurance Group by 348.8% in the 3rd quarter. Barclays PLC now owns 24,430 shares of the insurance provider's stock valued at $1,997,000 after buying an additional 18,987 shares during the period. Hedge funds and other institutional investors own 81.04% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Safety Insurance Group from a "buy" rating to a "hold" rating in a report on Thursday, February 27th.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT opened at $78.43 on Monday. Safety Insurance Group, Inc. has a 1 year low of $70.71 and a 1 year high of $90.00. The stock has a market capitalization of $1.17 billion, a P/E ratio of 15.53 and a beta of 0.22. The stock has a 50-day simple moving average of $77.15 and a 200-day simple moving average of $79.75.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The insurance provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.25 by $0.03. The firm had revenue of $298.97 million for the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.59%. The ex-dividend date is Monday, June 2nd. 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.

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