Carl P. Sherr & Co. LLC Sells 744 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Carl P. Sherr & Co. LLC lessened its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,936 shares of the insurance provider’s stock after selling 744 shares during the period. Safety Insurance Group accounts for 1.3% of Carl P. Sherr & Co. LLC’s investment portfolio, making the stock its 18th biggest position. Carl P. Sherr & Co. LLC owned approximately 0.20% of Safety Insurance Group worth $2,448,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. purchased a new position in Safety Insurance Group during the 3rd quarter valued at about $202,000. Dynamic Technology Lab Private Ltd purchased a new position in Safety Insurance Group during the 3rd quarter valued at about $213,000. Everence Capital Management Inc. purchased a new position in Safety Insurance Group during the 3rd quarter valued at about $267,000. Creative Planning purchased a new position in Safety Insurance Group during the 3rd quarter valued at about $299,000. Finally, SG Americas Securities LLC purchased a new position in Safety Insurance Group during the 3rd quarter valued at about $364,000. Institutional investors own 81.04% 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 stock opened at $85.22 on Friday. Safety Insurance Group, Inc. has a 1 year low of $71.99 and a 1 year high of $90.00. The firm has a fifty day moving average price of $82.40 and a 200-day moving average price of $81.03. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 16.88 and a beta of 0.17.

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

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.90 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.60 annualized dividend and a dividend yield of 4.22%. Safety Insurance Group’s payout ratio is 71.29%.

Insider Activity at Safety Insurance Group

In related news, VP Glenn Hiltpold sold 389 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.41, for a total value of $32,835.49. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.

Safety Insurance Group Profile

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.