First Trust Advisors LP Reduces Position in Safety Insurance Group, Inc. (SAFT)

First Trust Advisors LP lowered its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 79.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,065 shares of the insurance provider’s stock after selling 84,961 shares during the quarter. First Trust Advisors LP owned approximately 0.14% of Safety Insurance Group worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Safety Insurance Group by 3.0% during the 1st 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 during the last quarter. Wells Fargo & Company MN raised its position in Safety Insurance Group by 88.9% during the 1st quarter. Wells Fargo & Company MN now owns 49,522 shares of the insurance provider’s stock valued at $3,471,000 after purchasing an additional 23,302 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Safety Insurance Group by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,338,378 shares of the insurance provider’s stock worth $93,821,000 after buying an additional 75,812 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Safety Insurance Group by 2.3% during the first quarter. Bank of America Corp DE now owns 29,155 shares of the insurance provider’s stock valued at $2,043,000 after acquiring an additional 647 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in Safety Insurance Group in the first quarter worth $588,000. 78.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) traded down 0.26% on Friday, reaching $76.30. The company’s stock had a trading volume of 42,796 shares. The firm has a 50-day moving average price of $71.38 and a 200 day moving average price of $69.66. Safety Insurance Group, Inc. has a one year low of $65.30 and a one year high of $76.65. The firm has a market capitalization of $1.16 billion, a PE ratio of 18.16 and a beta of 0.76.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.80 dividend. This is an increase from Safety Insurance Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Wednesday, August 30th. Safety Insurance Group’s payout ratio is currently 76.19%.

Separately, BidaskClub raised shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th.

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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.

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

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