Comerica Bank lowered its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 12.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,089 shares of the insurance provider’s stock after selling 2,037 shares during the period. Comerica Bank owned approximately 0.09% of Safety Insurance Group worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Safety Insurance Group during the 2nd quarter worth approximately $151,000. KBC Group NV acquired a new stake in shares of Safety Insurance Group during the 2nd quarter worth approximately $197,000. Raymond James & Associates acquired a new stake in shares of Safety Insurance Group during the 2nd quarter worth approximately $233,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Safety Insurance Group during the 2nd quarter worth approximately $276,000. Finally, Vident Investment Advisory LLC acquired a new stake in shares of Safety Insurance Group during the 2nd quarter worth approximately $333,000. Institutional investors and hedge funds own 80.55% of the company’s stock.
In related news, Director David D. Mckown sold 1,235 shares of Safety Insurance Group stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $96.53, for a total value of $119,214.55. Following the completion of the sale, the director now owns 4,500 shares in the company, valued at approximately $434,385. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is currently owned by company insiders.
Safety Insurance Group stock opened at $86.66 on Friday. Safety Insurance Group, Inc. has a fifty-two week low of $70.45 and a fifty-two week high of $99.70. The company has a market capitalization of $1.30 billion, a P/E ratio of 16.97 and a beta of 0.65.
Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, October 31st. The insurance provider reported $1.76 earnings per share for the quarter. Safety Insurance Group had a net margin of 8.99% and a return on equity of 11.02%. The firm had revenue of $215.91 million during the quarter.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Monday, December 3rd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $3.20 annualized dividend and a yield of 3.69%.
Separately, BidaskClub upgraded shares of Safety Insurance Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 27th.
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Safety Insurance Group Profile
Safety Insurance Group, Inc provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, 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.
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