State of Alaska Department of Revenue Cuts Stock Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

State of Alaska Department of Revenue decreased its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 2.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,467 shares of the insurance provider’s stock after selling 245 shares during the period. State of Alaska Department of Revenue’s holdings in Safety Insurance Group were worth $692,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Safety Insurance Group by 458.9% during the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after buying an additional 257 shares during the last quarter. SG Americas Securities LLC bought a new position in Safety Insurance Group during the first quarter valued at approximately $152,000. Mutual of America Capital Management LLC bought a new position in Safety Insurance Group during the first quarter valued at approximately $210,000. ProShare Advisors LLC lifted its position in Safety Insurance Group by 7.3% during the first quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 198 shares during the period. Finally, Everence Capital Management Inc. bought a new position in Safety Insurance Group during the third quarter valued at approximately $267,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Stock Up 10.7 %

Shares of Safety Insurance Group stock opened at $88.30 on Thursday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 25.59 and a beta of 0.17. The company’s 50 day moving average is $82.00 and its 200 day moving average is $80.54. Safety Insurance Group, Inc. has a twelve month low of $71.99 and a twelve month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.12). Safety Insurance Group had a return on equity of 5.53% and a net margin of 4.96%. The business had revenue of $269.78 million during the quarter.

Safety Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.08%. Safety Insurance Group’s payout ratio is presently 104.35%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research report on Wednesday.

Insiders Place Their Bets

In other Safety Insurance Group news, VP Glenn Hiltpold sold 389 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.41, for a total value of $32,835.49. Following the transaction, the vice president now directly owns 11,204 shares in the company, valued at approximately $945,729.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 915 shares of company stock worth $75,125. Company insiders own 2.00% of the company’s stock.

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.