Jacobs Levy Equity Management Inc. Lowers Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Jacobs Levy Equity Management Inc. cut its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 20.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,276 shares of the insurance provider's stock after selling 12,922 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.35% of Safety Insurance Group worth $4,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Signaturefd LLC lifted its position in shares of Safety Insurance Group by 94.9% in the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of 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 acquiring an additional 420 shares in the last quarter. KBC Group NV lifted its position in shares of Safety Insurance Group by 52.2% in the fourth quarter. KBC Group NV now owns 1,000 shares of the insurance provider's stock valued at $82,000 after acquiring an additional 343 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Safety Insurance Group in the fourth quarter valued at about $181,000. Finally, Parvin Asset Management LLC bought a new stake in shares of Safety Insurance Group in the fourth quarter worth about $240,000. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Safety Insurance Group Stock Down 1.0%

NASDAQ SAFT traded down $0.80 during trading hours on Tuesday, hitting $82.69. 4,120 shares of the company were exchanged, compared to its average volume of 54,804. The stock has a 50-day moving average price of $77.86 and a 200 day moving average price of $79.89. Safety Insurance Group, Inc. has a 52 week low of $70.71 and a 52 week high of $90.00. The stock has a market cap of $1.23 billion, a PE ratio of 16.30 and a beta of 0.22.

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

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.60 annualized dividend and a yield of 4.35%. Safety Insurance Group's payout ratio is currently 73.62%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Safety Insurance Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th.

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.