Carl P. Sherr & Co. LLC Cuts Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Carl P. Sherr & Co. LLC lowered its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,936 shares of the insurance provider’s stock after selling 744 shares during the period. Safety Insurance Group makes up approximately 1.3% of Carl P. Sherr & Co. LLC’s investment portfolio, making the stock its 18th biggest holding. Carl P. Sherr & Co. LLC’s holdings in Safety Insurance Group were worth $2,448,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Safety Insurance Group during the third quarter valued at approximately $213,000. Charles Schwab Investment Management Inc. grew its holdings in Safety Insurance Group by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 233,023 shares of the insurance provider’s stock worth $19,057,000 after purchasing an additional 4,263 shares during the last quarter. Quest Partners LLC purchased a new position in Safety Insurance Group in the third quarter worth $379,000. TimesSquare Capital Management LLC grew its holdings in Safety Insurance Group by 12.6% in the third quarter. TimesSquare Capital Management LLC now owns 512,888 shares of the insurance provider’s stock worth $41,944,000 after purchasing an additional 57,320 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in Safety Insurance Group in the third quarter worth $202,000. Institutional investors own 81.04% of the company’s stock.

Insider Transactions at Safety Insurance Group

In related news, VP Glenn Hiltpold sold 389 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.41, for a total transaction of $32,835.49. Following the completion of the sale, the vice president now owns 11,204 shares of the company’s stock, valued at approximately $945,729.64. This represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

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

Safety Insurance Group Price Performance

Shares of SAFT opened at $85.22 on Friday. The firm has a market capitalization of $1.26 billion, a PE ratio of 16.88 and a beta of 0.17. Safety Insurance Group, Inc. has a 1-year low of $71.99 and a 1-year high of $90.00. The company’s fifty day moving average price is $82.40 and its 200-day moving average price is $81.03.

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

Safety Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.22%. 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.