Northstar Asset Management Inc. Decreases Stake in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Northstar Asset Management Inc. cut its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 0.2% during the third quarter, HoldingsChannel reports. The firm owned 67,632 shares of the insurance provider’s stock after selling 146 shares during the quarter. Northstar Asset Management Inc.’s holdings in Safety Insurance Group were worth $5,531,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SAFT. Vanguard Group Inc. increased its holdings in Safety Insurance Group by 3.3% in the first quarter. Vanguard Group Inc. now owns 1,695,813 shares of the insurance provider’s stock valued at $139,379,000 after buying an additional 54,441 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Safety Insurance Group by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 756,633 shares of the insurance provider’s stock valued at $56,770,000 after acquiring an additional 11,146 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Safety Insurance Group by 101.7% during the 1st quarter. TimesSquare Capital Management LLC now owns 405,118 shares of the insurance provider’s stock worth $33,297,000 after acquiring an additional 204,218 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Safety Insurance Group by 113.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 54,929 shares of the insurance provider’s stock worth $4,515,000 after purchasing an additional 29,167 shares during the last quarter. Finally, Silver Lake Advisory LLC boosted its holdings in Safety Insurance Group by 1.8% in the second quarter. Silver Lake Advisory LLC now owns 41,658 shares of the insurance provider’s stock valued at $3,126,000 after purchasing an additional 752 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Safety Insurance Group Price Performance

NASDAQ SAFT opened at $79.77 on Wednesday. The company has a fifty day moving average of $81.98 and a two-hundred day moving average of $80.48. The company has a market capitalization of $1.18 billion, a PE ratio of 23.12 and a beta of 0.17. Safety Insurance Group, Inc. has a 1 year low of $71.99 and a 1 year high of $89.46.

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

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.51%. Safety Insurance Group’s dividend payout ratio (DPR) is 104.35%.

Insider Buying and Selling

In related news, VP Glenn Hiltpold sold 389 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.41, for a total value of $32,835.49. Following the transaction, the vice president now owns 11,204 shares in the company, valued at $945,729.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 915 shares of company stock worth $75,125 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

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.