Jacobs Levy Equity Management Inc. Reduces Stock Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Jacobs Levy Equity Management Inc. lowered its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 20.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 51,276 shares of the insurance provider’s stock after selling 12,922 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Safety Insurance Group were worth $4,225,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SAFT. TimesSquare Capital Management LLC boosted 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 during the period. Bank of New York Mellon Corp raised 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 valued at $18,125,000 after purchasing an additional 69,750 shares in the last quarter. Norges Bank bought a new stake in Safety Insurance Group during the 4th quarter valued at $4,023,000. JPMorgan Chase & Co. raised 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 valued at $17,498,000 after purchasing an additional 37,495 shares in the last quarter. Finally, Barclays PLC raised its position in Safety Insurance Group by 348.8% during the 3rd quarter. Barclays PLC now owns 24,430 shares of the insurance provider’s stock valued at $1,997,000 after purchasing an additional 18,987 shares in the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Monday.

Safety Insurance Group Stock Down 1.5%

Shares of NASDAQ SAFT opened at $80.05 on Thursday. The business has a fifty day simple moving average of $77.44 and a two-hundred day simple moving average of $79.78. The firm has a market cap of $1.19 billion, a PE ratio of 15.85 and a beta of 0.22. Safety Insurance Group, Inc. has a twelve month low of $70.71 and a twelve month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share 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 business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Monday, June 2nd. Safety Insurance Group’s payout ratio is 73.62%.

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.