US Bancorp DE Reduces Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

US Bancorp DE reduced its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,814 shares of the insurance provider’s stock after selling 500 shares during the period. US Bancorp DE’s holdings in Safety Insurance Group were worth $561,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC increased its holdings in Safety Insurance Group by 17.5% during the 4th quarter. TimesSquare Capital Management LLC now owns 602,449 shares of the insurance provider’s stock valued at $49,642,000 after acquiring an additional 89,561 shares in the last quarter. State Street Corp increased its holdings in Safety Insurance Group by 0.5% during the 3rd quarter. State Street Corp now owns 589,457 shares of the insurance provider’s stock valued at $48,206,000 after acquiring an additional 2,682 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Safety Insurance Group by 0.7% during the third quarter. Geode Capital Management LLC now owns 355,390 shares of the insurance provider’s stock worth $29,070,000 after buying an additional 2,435 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Safety Insurance Group by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 233,023 shares of the insurance provider’s stock worth $19,057,000 after buying an additional 4,263 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Safety Insurance Group by 46.4% during the fourth quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider’s stock worth $18,125,000 after buying an additional 69,750 shares in the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Safety Insurance Group Stock Performance

Safety Insurance Group stock opened at $76.16 on Wednesday. Safety Insurance Group, Inc. has a 1 year low of $73.38 and a 1 year high of $90.00. The firm has a 50 day moving average price of $78.38 and a 200 day moving average price of $81.47. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 15.08 and a beta of 0.13.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.23). The business had revenue of $286.72 million for the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.90 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.60 annualized dividend and a dividend yield of 4.73%. Safety Insurance Group’s dividend payout ratio (DPR) is presently 75.47%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, February 27th.

Safety Insurance Group Company Profile

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.