Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 1.03% of Safety Insurance Group worth $12,607,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Barclays PLC grew its stake in shares of Safety Insurance Group by 348.8% during the third quarter. Barclays PLC now owns 24,430 shares of the insurance provider's stock worth $1,997,000 after purchasing an additional 18,987 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Safety Insurance Group by 5.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 174,859 shares of the insurance provider's stock valued at $14,300,000 after acquiring an additional 9,531 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Safety Insurance Group by 4.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 21,156 shares of the insurance provider's stock valued at $1,743,000 after acquiring an additional 865 shares during the last quarter. KBC Group NV lifted its stake in Safety Insurance Group by 52.2% during the fourth quarter. KBC Group NV now owns 1,000 shares of the insurance provider's stock worth $82,000 after purchasing an additional 343 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its holdings in Safety Insurance Group by 1.3% in the fourth quarter. Naples Global Advisors LLC now owns 17,373 shares of the insurance provider's stock valued at $1,432,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company's stock.

Safety Insurance Group Stock Up 1.8 %

SAFT traded up $1.37 during trading on Friday, hitting $77.58. 38,562 shares of the stock were exchanged, compared to its average volume of 54,665. The firm 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 1-year low of $70.71 and a 1-year high of $90.00. The stock has a fifty day moving average price of $77.00 and a two-hundred day moving average price of $79.96.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). The business had revenue of $286.72 million during the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.90 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.64%. Safety Insurance Group's dividend payout ratio (DPR) is 75.47%.

Analyst Ratings Changes

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

About Safety Insurance Group

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.