Principal Financial Group Inc. Decreases Stock Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Principal Financial Group Inc. cut its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,744 shares of the insurance provider’s stock after selling 314 shares during the quarter. Principal Financial Group Inc.’s holdings in Safety Insurance Group were worth $6,308,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Safety Insurance Group by 7.6% in the fourth quarter. Teacher Retirement System of Texas now owns 4,908 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 345 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Safety Insurance Group in the 4th quarter valued at $562,000. Deutsche Bank AG boosted its holdings in shares of Safety Insurance Group by 19.9% during the 3rd quarter. Deutsche Bank AG now owns 7,711 shares of the insurance provider’s stock valued at $526,000 after acquiring an additional 1,282 shares in the last quarter. Anchor Capital Advisors LLC raised its position in shares of Safety Insurance Group by 26.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 13,280 shares of the insurance provider’s stock worth $1,009,000 after acquiring an additional 2,747 shares in the last quarter. Finally, Catalytic Wealth RIA LLC bought a new stake in Safety Insurance Group in the 4th quarter valued at about $1,133,000. 81.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, May 10th.

Safety Insurance Group Trading Down 0.6 %

NASDAQ:SAFT traded down $0.47 during trading hours on Friday, reaching $74.38. The company had a trading volume of 7,154 shares, compared to its average volume of 52,168. Safety Insurance Group, Inc. has a 52 week low of $65.78 and a 52 week high of $88.72. The firm’s 50 day moving average price is $77.68 and its 200-day moving average price is $79.38. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 21.57 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Wednesday, May 8th. The insurance provider reported $0.93 EPS for the quarter. Safety Insurance Group had a net margin of 5.20% and a return on equity of 4.90%. The business had revenue of $268.23 million for the quarter.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend was Monday, June 3rd. Safety Insurance Group’s dividend payout ratio (DPR) is presently 103.75%.

Insider Activity

In other news, VP Glenn Hiltpold sold 338 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $76.75, for a total value of $25,941.50. Following the completion of the transaction, the vice president now owns 11,593 shares in the company, valued at approximately $889,762.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

About Safety Insurance Group

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.