American Century Companies Inc. Sells 11,835 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

American Century Companies Inc. cut its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 15.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,464 shares of the insurance provider's stock after selling 11,835 shares during the quarter. American Century Companies Inc. owned approximately 0.45% of Safety Insurance Group worth $4,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SAFT. Jacobs Levy Equity Management Inc. raised its holdings in Safety Insurance Group by 113.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 54,929 shares of the insurance provider's stock valued at $4,515,000 after acquiring an additional 29,167 shares during the period. TimesSquare Capital Management LLC raised its stake in Safety Insurance Group by 101.7% during the 1st quarter. TimesSquare Capital Management LLC now owns 405,118 shares of the insurance provider's stock valued at $33,297,000 after purchasing an additional 204,218 shares during the period. Vanguard Group Inc. raised its stake in Safety Insurance Group by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 1,695,813 shares of the insurance provider's stock valued at $139,379,000 after purchasing an additional 54,441 shares during the period. Catalytic Wealth RIA LLC purchased a new position in Safety Insurance Group in the 4th quarter worth approximately $1,133,000. Finally, Bessemer Group Inc. boosted its stake in Safety Insurance Group by 458.9% in the 1st quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider's stock worth $26,000 after purchasing an additional 257 shares during the period. 81.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Safety Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, September 5th.

Insider Buying and Selling

In other Safety Insurance Group news, VP Glenn Hiltpold sold 389 shares of the stock in a transaction on 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 transaction, the vice president now owns 11,204 shares in the company, valued at $945,729.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 915 shares of company stock worth $75,125. Insiders own 2.00% of the company's stock.

Safety Insurance Group Stock Up 0.7 %

SAFT stock traded up $0.60 during mid-day trading on Thursday, hitting $82.15. The company had a trading volume of 35,528 shares, compared to its average volume of 53,958. The company has a 50-day moving average price of $83.33 and a 200 day moving average price of $80.37. Safety Insurance Group, Inc. has a 12-month low of $66.93 and a 12-month high of $89.46. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 23.67 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its earnings results on Wednesday, August 7th. The insurance provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.12). The firm had revenue of $269.78 million during the quarter. Safety Insurance Group had a return on equity of 5.53% and a net margin of 4.96%.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Tuesday, September 3rd. Safety Insurance Group's dividend payout ratio (DPR) is presently 103.75%.

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.