Municipal Employees Retirement System of Michigan held its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,260 shares of the insurance provider’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Safety Insurance Group were worth $229,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of SAFT. Russell Investments Group Ltd. bought a new stake in shares of Safety Insurance Group during the fourth quarter valued at approximately $865,000. Comerica Bank raised its position in Safety Insurance Group by 5.9% in the fourth quarter. Comerica Bank now owns 15,156 shares of the insurance provider’s stock valued at $1,094,000 after buying an additional 842 shares during the last quarter. State Street Corp raised its position in Safety Insurance Group by 14.7% in the fourth quarter. State Street Corp now owns 349,106 shares of the insurance provider’s stock valued at $25,730,000 after buying an additional 44,795 shares during the last quarter. Renaissance Technologies LLC raised its position in Safety Insurance Group by 27.9% in the fourth quarter. Renaissance Technologies LLC now owns 215,186 shares of the insurance provider’s stock valued at $15,859,000 after buying an additional 46,886 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in Safety Insurance Group by 4.1% in the fourth quarter. Public Sector Pension Investment Board now owns 10,078 shares of the insurance provider’s stock valued at $743,000 after buying an additional 400 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.
Safety Insurance Group, Inc. (SAFT) traded down 1.83% during mid-day trading on Friday, hitting $72.30. 51,578 shares of the stock were exchanged. The stock has a market cap of $1.10 billion, a PE ratio of 17.21 and a beta of 0.77. Safety Insurance Group, Inc. has a 52-week low of $62.75 and a 52-week high of $75.05. The stock’s 50 day moving average is $69.23 and its 200 day moving average is $69.90.
The company also recently disclosed 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 is an increase from Safety Insurance Group’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 annualized dividend and a yield of 4.43%. Safety Insurance Group’s dividend payout ratio (DPR) is 66.67%.
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Separately, BidaskClub downgraded shares of Safety Insurance Group from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd.
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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