Safety Insurance Group, Inc. (NASDAQ:SAFT) Position Trimmed by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its stake in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,369 shares of the insurance provider’s stock after selling 319 shares during the quarter. MetLife Investment Management LLC’s holdings in Safety Insurance Group were worth $684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. acquired a new position in Safety Insurance Group in the 3rd quarter valued at approximately $202,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Safety Insurance Group in the third quarter worth $213,000. Everence Capital Management Inc. purchased a new stake in shares of Safety Insurance Group during the third quarter worth $267,000. Creative Planning purchased a new stake in shares of Safety Insurance Group during the third quarter worth $299,000. Finally, Inspire Investing LLC boosted its position in Safety Insurance Group by 7.4% during the second quarter. Inspire Investing LLC now owns 4,658 shares of the insurance provider’s stock valued at $349,000 after purchasing an additional 319 shares during the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Safety Insurance Group Stock Performance

Shares of SAFT opened at $86.27 on Friday. The firm has a market cap of $1.28 billion, a PE ratio of 17.08 and a beta of 0.19. The firm’s 50 day moving average price is $82.88 and its 200 day moving average price is $81.28. Safety Insurance Group, Inc. has a twelve month low of $71.99 and a twelve month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.30). Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%. The business had revenue of $295.28 million for the quarter.

Safety Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.90 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.17%. Safety Insurance Group’s dividend payout ratio is currently 71.29%.

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.