Tower Research Capital LLC TRC Sells 604 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Tower Research Capital LLC TRC cut its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 43.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 778 shares of the insurance provider’s stock after selling 604 shares during the period. Tower Research Capital LLC TRC’s holdings in Safety Insurance Group were worth $64,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. TimesSquare Capital Management LLC grew 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 worth $49,642,000 after acquiring an additional 89,561 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Safety Insurance Group by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider’s stock worth $19,740,000 after acquiring an additional 6,542 shares during the last quarter. Bank of New York Mellon Corp grew its position in Safety Insurance Group by 46.4% during the 4th quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider’s stock worth $18,125,000 after acquiring an additional 69,750 shares during the last quarter. JPMorgan Chase & Co. grew its position in Safety Insurance Group by 21.4% during the 4th quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider’s stock worth $17,498,000 after acquiring an additional 37,495 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Safety Insurance Group by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 71,952 shares of the insurance provider’s stock worth $5,929,000 after acquiring an additional 2,022 shares during the last quarter. 81.04% of the stock is currently owned by institutional investors.

Safety Insurance Group Stock Up 0.5%

SAFT opened at $78.43 on Monday. The stock has a market cap of $1.17 billion, a PE ratio of 15.53 and a beta of 0.22. The business has a 50 day moving average of $77.15 and a 200-day moving average of $79.75. Safety Insurance Group, Inc. has a 52 week low of $70.71 and a 52 week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The business had revenue of $298.97 million during the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Monday, June 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is presently 73.62%.

Analyst Upgrades and Downgrades

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

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.