Principal Financial Group Inc. Has $6.31 Million Stock Position in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Principal Financial Group Inc. cut its holdings in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,744 shares of the insurance provider’s stock after selling 314 shares during the period. Principal Financial Group Inc. owned 0.52% of Safety Insurance Group worth $6,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SAFT. Vanguard Group Inc. boosted its holdings in shares of Safety Insurance Group by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 1,641,372 shares of the insurance provider’s stock valued at $124,728,000 after buying an additional 16,684 shares during the last quarter. Victory Capital Management Inc. grew its position in Safety Insurance Group by 1.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,174,371 shares of the insurance provider’s stock valued at $89,240,000 after acquiring an additional 19,004 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Safety Insurance Group by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 216,496 shares of the insurance provider’s stock valued at $16,452,000 after acquiring an additional 9,803 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Safety Insurance Group during the fourth quarter worth about $15,266,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Safety Insurance Group by 1,429.7% during the fourth quarter. Hsbc Holdings PLC now owns 71,361 shares of the insurance provider’s stock worth $5,402,000 after purchasing an additional 66,696 shares during the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Glenn Hiltpold sold 338 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $76.75, for a total transaction of $25,941.50. Following the completion of the transaction, the vice president now directly owns 11,593 shares of the company’s stock, valued at $889,762.75. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Safety Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, May 10th.

Safety Insurance Group Price Performance

Shares of NASDAQ:SAFT traded down $0.47 on Friday, hitting $74.38. The company’s stock had a trading volume of 7,154 shares, compared to its average volume of 52,168. The company has a 50-day simple moving average of $77.68 and a 200 day simple moving average of $79.38. Safety Insurance Group, Inc. has a 1 year low of $65.78 and a 1 year high of $88.72. The company has a market capitalization of $1.10 billion, a PE ratio of 21.57 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, May 8th. The insurance provider reported $0.93 earnings per share (EPS) for the quarter. Safety Insurance Group had a return on equity of 4.90% and a net margin of 5.20%. The firm had revenue of $268.23 million for the quarter.

Safety Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date was Monday, June 3rd. Safety Insurance Group’s payout ratio is 103.75%.

Safety Insurance Group 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.