California Public Employees Retirement System cut its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 40.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,000 shares of the insurance provider’s stock after selling 9,700 shares during the period. California Public Employees Retirement System owned approximately 0.09% of Safety Insurance Group worth $981,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its position in Safety Insurance Group by 88.9% in the first quarter. Wells Fargo & Company MN now owns 49,522 shares of the insurance provider’s stock valued at $3,471,000 after buying an additional 23,302 shares in the last quarter. Principal Financial Group Inc. raised its position in Safety Insurance Group by 3.0% in the first quarter. Principal Financial Group Inc. now owns 121,780 shares of the insurance provider’s stock valued at $8,537,000 after buying an additional 3,536 shares in the last quarter. Norges Bank acquired a new position in Safety Insurance Group during the fourth quarter valued at about $13,843,000. First Manhattan Co. raised its position in Safety Insurance Group by 3.5% in the first quarter. First Manhattan Co. now owns 19,765 shares of the insurance provider’s stock valued at $1,328,000 after buying an additional 675 shares in the last quarter. Finally, Navellier & Associates Inc raised its position in Safety Insurance Group by 3.6% in the first quarter. Navellier & Associates Inc now owns 6,084 shares of the insurance provider’s stock valued at $426,000 after buying an additional 212 shares in the last quarter. 79.47% of the stock is owned by institutional investors.

Safety Insurance Group, Inc. (NASDAQ SAFT) traded down 0.35% during trading on Friday, hitting $70.70. The stock had a trading volume of 46,871 shares. The stock’s 50-day moving average price is $69.90 and its 200-day moving average price is $69.90. The company has a market capitalization of $1.08 billion, a P/E ratio of 16.83 and a beta of 0.77. Safety Insurance Group, Inc. has a 1-year low of $65.23 and a 1-year high of $75.05.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Safety Insurance Group’s previous quarterly dividend of $0.70. Safety Insurance Group’s payout ratio is 66.67%.

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Separately, BidaskClub raised Safety Insurance Group from a “sell” rating to a “hold” rating in a report on Friday, June 30th.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.

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Institutional Ownership by Quarter for Safety Insurance Group (NASDAQ:SAFT)

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