Prudential Financial Inc. Has $1.23 Million Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Prudential Financial Inc. decreased its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 1.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,876 shares of the insurance provider’s stock after selling 250 shares during the period. Prudential Financial Inc.’s holdings in Safety Insurance Group were worth $1,226,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. TimesSquare Capital Management LLC increased its position 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 purchasing an additional 89,561 shares during the period. Bank of New York Mellon Corp increased its position 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 during the period. Barclays PLC raised its stake in Safety Insurance Group by 348.8% during the third quarter. Barclays PLC now owns 24,430 shares of the insurance provider’s stock worth $1,997,000 after buying an additional 18,987 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Safety Insurance Group in the fourth quarter valued at $1,215,000. Finally, Raymond James Financial Inc. bought a new stake in Safety Insurance Group during the fourth quarter valued at $1,200,000. 81.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Safety Insurance Group Stock Performance

Shares of SAFT opened at $76.24 on Monday. The firm has a market cap of $1.14 billion, a PE ratio of 15.10 and a beta of 0.19. Safety Insurance Group, Inc. has a 52-week low of $73.38 and a 52-week high of $90.00. The business’s 50 day moving average price is $77.87 and its two-hundred day moving average price is $80.66.

Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.23). The company 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 was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.90 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.60 annualized dividend and a dividend yield of 4.72%. Safety Insurance Group’s dividend payout ratio is presently 75.47%.

Safety Insurance Group 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.