Victory Capital Management Inc. Has $93.19 Million Stock Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Victory Capital Management Inc. cut its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,139,499 shares of the insurance provider's stock after selling 93,113 shares during the quarter. Victory Capital Management Inc. owned 7.68% of Safety Insurance Group worth $93,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SAFT. Bessemer Group Inc. raised its holdings in Safety Insurance Group by 458.9% in the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider's stock worth $26,000 after purchasing an additional 257 shares in the last quarter. SG Americas Securities LLC bought a new position in Safety Insurance Group in the 1st quarter worth $152,000. Robeco Institutional Asset Management B.V. purchased a new position in Safety Insurance Group during the third quarter valued at $202,000. Mutual of America Capital Management LLC bought a new stake in Safety Insurance Group in the 1st quarter worth approximately $210,000. Finally, ProShare Advisors LLC increased its position in shares of Safety Insurance Group by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider's stock valued at $239,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 81.04% of the company's stock.

Insider Activity at Safety Insurance Group

In related news, VP Glenn Hiltpold sold 389 shares of the business's 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 transaction, the vice president now owns 11,204 shares of the company's stock, valued at approximately $945,729.64. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised Safety Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday.

Safety Insurance Group Stock Performance

Safety Insurance Group stock traded down $0.82 during mid-day trading on Thursday, reaching $85.02. 48,964 shares of the company were exchanged, compared to its average volume of 51,932. Safety Insurance Group, Inc. has a twelve month low of $71.99 and a twelve month high of $90.00. The firm has a market cap of $1.26 billion, a PE ratio of 16.95 and a beta of 0.17. The firm's 50-day simple moving average is $81.87 and its two-hundred day simple moving average is $80.73.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $295.28 million during the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.60 annualized dividend and a yield of 4.23%. Safety Insurance Group's payout ratio is 71.29%.

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.