Safety Insurance Group, Inc. (NASDAQ:SAFT) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. trimmed its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 23.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,800 shares of the insurance provider’s stock after selling 3,900 shares during the period. First Manhattan CO. LLC.’s holdings in Safety Insurance Group were worth $1,055,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. D. E. Shaw & Co. Inc. bought a new stake in shares of Safety Insurance Group in the 4th quarter valued at approximately $655,000. Deutsche Bank AG increased its holdings in shares of Safety Insurance Group by 58.9% in the 4th quarter. Deutsche Bank AG now owns 14,027 shares of the insurance provider’s stock valued at $1,156,000 after acquiring an additional 5,202 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Safety Insurance Group in the 4th quarter valued at approximately $181,000. Balyasny Asset Management L.P. bought a new stake in shares of Safety Insurance Group in the 4th quarter valued at approximately $453,000. Finally, Bank of America Corp DE increased its holdings in shares of Safety Insurance Group by 12.2% in the 4th quarter. Bank of America Corp DE now owns 17,790 shares of the insurance provider’s stock valued at $1,466,000 after acquiring an additional 1,930 shares during the last quarter. 81.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Safety Insurance Group Trading Up 0.5%

Shares of NASDAQ SAFT opened at $78.43 on Monday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 15.53 and a beta of 0.22. The business has a 50 day simple moving average of $77.15 and a 200-day simple moving average of $79.75. Safety Insurance Group, Inc. has a twelve month low of $70.71 and a twelve month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The firm had revenue of $298.97 million during 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 disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 4.59%. Safety Insurance Group’s payout ratio is currently 73.62%.

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.