BlackRock Inc. Has $102.71 Million Stake in Safety Insurance Group, Inc. (SAFT)

BlackRock Inc. boosted its position in Safety Insurance Group, Inc. (NASDAQ:SAFT) by 35,898.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,465,146 shares of the insurance provider’s stock after buying an additional 1,461,076 shares during the period. BlackRock Inc. owned 9.67% of Safety Insurance Group worth $102,706,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Safety Insurance Group by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,338,378 shares of the insurance provider’s stock worth $93,821,000 after buying an additional 75,812 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Safety Insurance Group by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,272,944 shares of the insurance provider’s stock worth $89,233,000 after buying an additional 20,774 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Safety Insurance Group by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 407,343 shares of the insurance provider’s stock worth $28,553,000 after buying an additional 14,229 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Safety Insurance Group by 44.5% in the first quarter. Renaissance Technologies LLC now owns 310,986 shares of the insurance provider’s stock worth $21,800,000 after buying an additional 95,800 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Safety Insurance Group during the fourth quarter worth approximately $13,843,000. Institutional investors own 79.03% of the company’s stock.

Safety Insurance Group, Inc. (NASDAQ:SAFT) opened at 71.60 on Friday. The company has a market cap of $1.09 billion, a P/E ratio of 17.04 and a beta of 0.77. The company’s 50 day moving average price is $70.38 and its 200 day moving average price is $69.85. Safety Insurance Group, Inc. has a 52-week low of $64.86 and a 52-week high of $75.05.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a yield of 4.47%. This is an increase from Safety Insurance Group’s previous quarterly dividend of $0.70. Safety Insurance Group’s dividend payout ratio is currently 66.67%.

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Separately, BidaskClub downgraded Safety Insurance Group from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.

Institutional Ownership by Quarter for Safety Insurance Group (NASDAQ:SAFT)

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