Kayne Anderson Rudnick Investment Management LLC Cuts Stock Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 56.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,507 shares of the insurance provider’s stock after selling 56,689 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Safety Insurance Group were worth $3,585,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. TimesSquare Capital Management LLC raised its stake 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 valued at $49,642,000 after purchasing an additional 89,561 shares during the period. Geode Capital Management LLC grew 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 valued at $29,070,000 after buying an additional 2,435 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Safety Insurance Group by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider’s stock valued at $19,740,000 after buying an additional 6,542 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Safety Insurance Group by 46.4% in the fourth quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider’s stock worth $18,125,000 after buying an additional 69,750 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Safety Insurance Group by 21.4% during the fourth quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider’s stock worth $17,498,000 after acquiring an additional 37,495 shares during the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Safety Insurance Group Trading Down 1.8 %

Shares of Safety Insurance Group stock opened at $75.44 on Tuesday. The firm has a market cap of $1.12 billion, a PE ratio of 14.94 and a beta of 0.19. The stock has a 50 day moving average of $77.17 and a 200 day moving average of $80.15. Safety Insurance Group, Inc. has a 12 month low of $70.71 and a 12 month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The firm had revenue of $286.72 million for the quarter.

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.90 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.77%. Safety Insurance Group’s payout ratio is currently 75.47%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th.

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.