State Board of Administration of Florida Retirement System Acquires 3,557 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

State Board of Administration of Florida Retirement System lifted its holdings in Safety Insurance Group, Inc. (NASDAQ:SAFTGet Rating) by 104.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,960 shares of the insurance provider’s stock after acquiring an additional 3,557 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Safety Insurance Group were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SAFT. Nisa Investment Advisors LLC raised its position in shares of Safety Insurance Group by 12.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,240 shares of the insurance provider’s stock worth $476,000 after acquiring an additional 580 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Safety Insurance Group in the 1st quarter worth about $223,000. Victory Capital Management Inc. raised its position in shares of Safety Insurance Group by 70.2% in the 1st quarter. Victory Capital Management Inc. now owns 205,240 shares of the insurance provider’s stock worth $17,669,000 after acquiring an additional 84,663 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Safety Insurance Group by 3.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,122 shares of the insurance provider’s stock worth $374,000 after acquiring an additional 155 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Safety Insurance Group by 4.7% in the 1st quarter. New York State Common Retirement Fund now owns 56,316 shares of the insurance provider’s stock worth $5,116,000 after acquiring an additional 2,512 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SAFT has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Safety Insurance Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet lowered Safety Insurance Group from a “b” rating to a “c+” rating in a research report on Friday, July 22nd.

Safety Insurance Group Stock Performance

Shares of Safety Insurance Group stock opened at $88.20 on Friday. Safety Insurance Group, Inc. has a one year low of $76.50 and a one year high of $99.75. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 24.36 and a beta of 0.26. The business has a 50-day simple moving average of $83.45 and a 200 day simple moving average of $88.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.36 and a quick ratio of 0.36.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Wednesday, November 30th. Safety Insurance Group’s payout ratio is 99.45%.

About Safety Insurance Group

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Safety Insurance Group (NASDAQ:SAFT)

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