Naples Global Advisors LLC Sells 470 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Naples Global Advisors LLC lowered its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,003 shares of the insurance provider’s stock after selling 470 shares during the quarter. Naples Global Advisors LLC owned approximately 0.11% of Safety Insurance Group worth $1,276,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Safety Insurance Group by 7,499.0% during the 4th quarter. International Assets Investment Management LLC now owns 15,198 shares of the insurance provider’s stock worth $1,155,000 after purchasing an additional 14,998 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Safety Insurance Group in the fourth quarter valued at approximately $562,000. Russell Investments Group Ltd. boosted its stake in Safety Insurance Group by 12.7% in the fourth quarter. Russell Investments Group Ltd. now owns 18,109 shares of the insurance provider’s stock valued at $1,376,000 after acquiring an additional 2,042 shares during the last quarter. Anchor Capital Advisors LLC grew its holdings in Safety Insurance Group by 26.1% during 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 during the period. Finally, Victory Capital Management Inc. grew its holdings in Safety Insurance Group by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,174,371 shares of the insurance provider’s stock worth $89,240,000 after acquiring an additional 19,004 shares during the period. Institutional investors and hedge funds own 81.04% of the company’s stock.

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, August 8th.

Insiders Place Their Bets

In other Safety Insurance Group news, VP Glenn Hiltpold sold 338 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $76.75, for a total value of $25,941.50. Following the completion of the sale, the vice president now directly owns 11,593 shares in the company, valued at $889,762.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Safety Insurance Group Price Performance

Shares of Safety Insurance Group stock traded up $1.22 during trading on Friday, hitting $82.53. 42,509 shares of the company were exchanged, compared to its average volume of 54,871. The firm has a market capitalization of $1.22 billion, a P/E ratio of 23.78 and a beta of 0.17. The firm’s fifty day moving average price is $79.30 and its 200 day moving average price is $80.28. Safety Insurance Group, Inc. has a 1-year low of $65.78 and a 1-year high of $88.72.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.12). The firm had revenue of $269.78 million for the quarter. Safety Insurance Group had a net margin of 4.96% and a return on equity of 5.53%.

Safety Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, September 3rd. Safety Insurance Group’s payout ratio is presently 103.75%.

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.