Safety Insurance Group (NASDAQ:SAFT) Issues Quarterly Earnings Results

Safety Insurance Group (NASDAQ:SAFT) announced its quarterly earnings results on Wednesday. The insurance provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.23, FiscalAI reports. Safety Insurance Group had a net margin of 7.85% and a return on equity of 9.69%. The company had revenue of $319.34 million for the quarter.

Safety Insurance Group Price Performance

Shares of Safety Insurance Group stock traded down $0.17 on Friday, hitting $77.59. The company’s stock had a trading volume of 29,822 shares, compared to its average volume of 73,672. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.41 and a current ratio of 0.41. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 11.58 and a beta of 0.22. The firm has a fifty day moving average price of $77.73 and a 200-day moving average price of $74.76. Safety Insurance Group has a 1 year low of $67.04 and a 1 year high of $84.20.

Safety Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, March 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is currently 54.93%.

Insider Transactions at Safety Insurance Group

In related news, major shareholder Corp Srb sold 3,231 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $77.14, for a total transaction of $249,239.34. Following the completion of the sale, the insider directly owned 1,834,964 shares in the company, valued at approximately $141,549,122.96. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Safety Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in SAFT. PNC Financial Services Group Inc. lifted its stake in Safety Insurance Group by 62.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock valued at $32,000 after buying an additional 160 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Safety Insurance Group by 1,317.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 461 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Safety Insurance Group by 653.0% in the fourth quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 431 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Safety Insurance Group during the fourth quarter valued at approximately $52,000. Finally, Quadrant Capital Group LLC boosted its stake in Safety Insurance Group by 309.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,130 shares of the insurance provider’s stock worth $88,000 after buying an additional 854 shares during the last quarter. 81.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.