California Public Employees Retirement System reduced its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 21.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the insurance provider’s stock after selling 3,000 shares during the quarter. California Public Employees Retirement System owned approximately 0.07% of Safety Insurance Group worth $751,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in Safety Insurance Group by 46.3% in the second quarter. State of Alaska Department of Revenue now owns 3,979 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 1,259 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Safety Insurance Group by 112.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the insurance provider’s stock worth $474,000 after purchasing an additional 3,680 shares during the period. Aperio Group LLC lifted its position in Safety Insurance Group by 5.3% in the second quarter. Aperio Group LLC now owns 8,315 shares of the insurance provider’s stock worth $568,000 after purchasing an additional 415 shares during the period. Cubic Asset Management LLC lifted its position in Safety Insurance Group by 0.6% in the second quarter. Cubic Asset Management LLC now owns 8,875 shares of the insurance provider’s stock worth $606,000 after purchasing an additional 50 shares during the period. Finally, Thomson Horstmann & Bryant Inc. lifted its position in Safety Insurance Group by 7.3% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 9,083 shares of the insurance provider’s stock worth $620,000 after purchasing an additional 617 shares during the period. 77.81% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Frederic H. Lindeberg sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $82.35, for a total value of $164,700.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,647,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.90% of the stock is owned by company insiders.

Safety Insurance Group, Inc. (SAFT) opened at $81.50 on Friday. The company has a market capitalization of $1,241.63, a price-to-earnings ratio of 19.75 and a beta of 0.80. Safety Insurance Group, Inc. has a 12-month low of $65.75 and a 12-month high of $83.30.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.20 annualized dividend and a yield of 3.93%. Safety Insurance Group’s dividend payout ratio (DPR) is currently 77.11%.

Separately, Compass Point cut Safety Insurance Group from a “neutral” rating to a “sell” rating in a research report on Monday, October 16th.

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

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