Fernwood Investment Management LLC Lowers Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Fernwood Investment Management LLC cut its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 81.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,018 shares of the insurance provider's stock after selling 73,187 shares during the period. Fernwood Investment Management LLC owned approximately 0.11% of Safety Insurance Group worth $1,392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bessemer Group Inc. raised its position in Safety Insurance Group by 458.9% during the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider's stock worth $26,000 after acquiring an additional 257 shares during the period. SG Americas Securities LLC purchased a new position in Safety Insurance Group in the 1st quarter valued at about $152,000. Mutual of America Capital Management LLC acquired a new stake in Safety Insurance Group in the 1st quarter worth about $210,000. ProShare Advisors LLC boosted its holdings in Safety Insurance Group by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider's stock worth $239,000 after buying an additional 198 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Safety Insurance Group during the 3rd quarter worth approximately $267,000. Hedge funds and other institutional investors own 81.04% of the company's stock.

Analyst Upgrades and Downgrades

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

Safety Insurance Group Stock Performance

Shares of NASDAQ SAFT traded down $0.14 during mid-day trading on Friday, reaching $78.13. The company's stock had a trading volume of 30,457 shares, compared to its average volume of 36,090. The stock has a 50-day moving average of $82.26 and a two-hundred day moving average of $80.50. The stock has a market capitalization of $1.16 billion, a P/E ratio of 22.65 and a beta of 0.17. Safety Insurance Group, Inc. has a 1-year low of $71.99 and a 1-year high of $89.46.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $269.78 million during the quarter. Safety Insurance Group had a net margin of 4.96% and a return on equity of 5.53%.

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Tuesday, September 3rd. Safety Insurance Group's dividend payout ratio (DPR) is currently 104.35%.

Insider Buying and Selling at Safety Insurance Group

In other news, VP Glenn Hiltpold sold 389 shares of Safety Insurance Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.41, for a total transaction of $32,835.49. Following the transaction, the vice president now owns 11,204 shares in the company, valued at $945,729.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 915 shares of company stock worth $75,125 in the last three months. 2.00% of the stock is owned by corporate insiders.

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.