Adage Capital Partners GP L.L.C. Trims Stake in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Adage Capital Partners GP L.L.C. cut its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 153,000 shares of the insurance provider's stock after selling 7,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 1.03% of Safety Insurance Group worth $12,607,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SAFT. Price T Rowe Associates Inc. MD lifted its holdings in shares of Safety Insurance Group by 18.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,585 shares of the insurance provider's stock worth $1,285,000 after purchasing an additional 2,425 shares during the period. Dark Forest Capital Management LP purchased a new position in Safety Insurance Group during the 4th quarter worth $712,000. MetLife Investment Management LLC lifted its stake in shares of Safety Insurance Group by 5.5% in the 4th quarter. MetLife Investment Management LLC now owns 8,832 shares of the insurance provider's stock worth $728,000 after acquiring an additional 463 shares during the period. Marshall Wace LLP purchased a new stake in shares of Safety Insurance Group in the fourth quarter valued at about $831,000. Finally, XTX Topco Ltd increased its stake in shares of Safety Insurance Group by 33.7% during the fourth quarter. XTX Topco Ltd now owns 4,623 shares of the insurance provider's stock worth $381,000 after acquiring an additional 1,164 shares during the period. 81.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Safety Insurance Group Stock Up 1.8 %

Shares of Safety Insurance Group stock traded up $1.37 during trading on Friday, reaching $77.58. The company's stock had a trading volume of 38,562 shares, compared to its average volume of 54,713. The business has a 50 day moving average price of $76.96 and a 200-day moving average price of $79.91. The company has a market capitalization of $1.16 billion, a P/E ratio of 15.36 and a beta of 0.19. Safety Insurance Group, Inc. has a 12-month low of $70.71 and a 12-month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The insurance provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.23). The company had revenue of $286.72 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 announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.90 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.60 dividend on an annualized basis and a yield of 4.64%. Safety Insurance Group's dividend payout ratio (DPR) is presently 75.47%.

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.