Illinois Municipal Retirement Fund Decreases Stock Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Illinois Municipal Retirement Fund reduced its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,003 shares of the insurance provider’s stock after selling 427 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Safety Insurance Group were worth $659,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. TimesSquare Capital Management LLC raised its stake in shares of Safety Insurance Group by 17.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 602,449 shares of the insurance provider’s stock worth $49,642,000 after purchasing an additional 89,561 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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 purchasing an additional 69,750 shares during the last quarter. Barclays PLC raised its stake in shares of Safety Insurance Group by 348.8% in the third quarter. Barclays PLC now owns 24,430 shares of the insurance provider’s stock worth $1,997,000 after purchasing an additional 18,987 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Safety Insurance Group by 8,078.0% in the third quarter. International Assets Investment Management LLC now owns 16,356 shares of the insurance provider’s stock worth $1,338,000 after purchasing an additional 16,156 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Safety Insurance Group by 57.4% in the third quarter. Jane Street Group LLC now owns 26,641 shares of the insurance provider’s stock worth $2,179,000 after purchasing an additional 9,713 shares during the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Safety Insurance Group Trading Up 0.4 %

Shares of SAFT opened at $76.47 on Tuesday. Safety Insurance Group, Inc. has a 12 month low of $73.38 and a 12 month high of $90.00. The stock’s 50 day moving average is $79.12 and its two-hundred day moving average is $81.78. The firm has a market cap of $1.13 billion, a P/E ratio of 15.14 and a beta of 0.20.

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

Safety Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.71%. The ex-dividend date is Monday, March 3rd. Safety Insurance Group’s payout ratio is currently 75.47%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Safety Insurance Group from a “buy” rating to a “hold” rating in a report 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.