Charles Schwab Investment Management Inc. Increases Stock Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Charles Schwab Investment Management Inc. increased its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 239,565 shares of the insurance provider's stock after acquiring an additional 6,542 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.61% of Safety Insurance Group worth $19,740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TimesSquare Capital Management LLC increased its holdings in Safety Insurance Group by 17.5% during the 4th quarter. TimesSquare Capital Management LLC now owns 602,449 shares of the insurance provider's stock worth $49,642,000 after acquiring an additional 89,561 shares during the period. State Street Corp increased its holdings in Safety Insurance Group by 0.5% during the 3rd quarter. State Street Corp now owns 589,457 shares of the insurance provider's stock worth $48,206,000 after acquiring an additional 2,682 shares during the period. Geode Capital Management LLC increased its holdings in Safety Insurance Group by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 355,390 shares of the insurance provider's stock worth $29,070,000 after acquiring an additional 2,435 shares during the period. Bank of New York Mellon Corp increased its holdings in Safety Insurance Group by 46.4% during the 4th quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider's stock worth $18,125,000 after acquiring an additional 69,750 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Safety Insurance Group by 5.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 174,859 shares of the insurance provider's stock worth $14,300,000 after acquiring an additional 9,531 shares during the period. Institutional investors own 81.04% of the company's stock.

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Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a report on Thursday, February 27th.

Safety Insurance Group Trading Down 0.8 %

Shares of NASDAQ:SAFT traded down $0.61 during trading on Friday, reaching $76.52. The company had a trading volume of 219,045 shares, compared to its average volume of 48,869. The company has a fifty day moving average of $77.84 and a two-hundred day moving average of $80.96. The stock has a market capitalization of $1.14 billion, a P/E ratio of 15.15 and a beta of 0.13. Safety Insurance Group, Inc. has a 12 month low of $73.38 and a 12 month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). The company had revenue of $286.72 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 business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Monday, March 3rd. Safety Insurance Group's payout ratio is 75.47%.

Safety Insurance Group Company 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.