Alliancebernstein L.P. Has $1.51 Million Stake in Safety Insurance Group, Inc. (SAFT)
Alliancebernstein L.P. reduced its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,571 shares of the insurance provider’s stock after selling 1,000 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of Safety Insurance Group worth $1,512,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its position in Safety Insurance Group by 76.6% in the first quarter. State of Alaska Department of Revenue now owns 2,720 shares of the insurance provider’s stock valued at $190,000 after buying an additional 1,180 shares during the last quarter. TFS Capital LLC purchased a new position in Safety Insurance Group during the first quarter valued at about $200,000. Mason Street Advisors LLC increased its stake in shares of Safety Insurance Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,330 shares of the insurance provider’s stock valued at $233,000 after buying an additional 218 shares in the last quarter. US Bancorp DE increased its stake in shares of Safety Insurance Group by 2.2% in the first quarter. US Bancorp DE now owns 4,694 shares of the insurance provider’s stock valued at $329,000 after buying an additional 100 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Safety Insurance Group by 58.0% in the first quarter. SG Americas Securities LLC now owns 4,708 shares of the insurance provider’s stock valued at $330,000 after buying an additional 1,728 shares in the last quarter. 79.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Safety Insurance Group, Inc. (NASDAQ SAFT) traded up 0.14% during midday trading on Friday, reaching $71.60. The company’s stock had a trading volume of 62,683 shares. Safety Insurance Group, Inc. has a 52 week low of $65.23 and a 52 week high of $75.05. The company has a 50 day moving average of $70.38 and a 200-day moving average of $69.85. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 17.04 and a beta of 0.77.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Wednesday, August 30th. This is a boost from Safety Insurance Group’s previous quarterly dividend of $0.70. Safety Insurance Group’s dividend payout ratio (DPR) is 66.67%.
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Separately, BidaskClub raised Safety Insurance Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th.
About Safety Insurance Group
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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