Safety Insurance Group (NASDAQ:SAFT) Issues Quarterly Earnings Results
by Doug Wharley · The Cerbat GemSafety Insurance Group (NASDAQ:SAFT – Get Free Report) posted its quarterly earnings results on Wednesday. The insurance provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17), FiscalAI reports. Safety Insurance Group had a return on equity of 9.64% and a net margin of 7.85%.
Safety Insurance Group Stock Down 0.1%
Safety Insurance Group stock traded down $0.09 during trading on Wednesday, hitting $74.30. 83,212 shares of the company were exchanged, compared to its average volume of 84,638. The business’s 50 day moving average is $74.55 and its 200 day moving average is $75.52. Safety Insurance Group has a 52 week low of $67.04 and a 52 week high of $84.20. The company has a market capitalization of $1.09 billion, a P/E ratio of 11.09 and a beta of 0.24. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06.
Safety Insurance Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were issued a dividend of $0.92 per share. The ex-dividend date was Monday, March 2nd. This represents a $3.68 annualized dividend and a yield of 5.0%. Safety Insurance Group’s dividend payout ratio is 54.93%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. 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 MarketBeat, the company currently has a consensus rating of “Hold”.
View Our Latest Stock Report on Safety Insurance Group
Insider Transactions at Safety Insurance Group
In related news, major shareholder Corp Srb sold 14,151 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $71.12, for a total transaction of $1,006,419.12. Following the completion of the sale, the insider owned 1,794,655 shares in the company, valued at approximately $127,635,863.60. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 36,304 shares of company stock worth $2,728,283 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.
Institutional Investors Weigh In On Safety Insurance Group
Institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC bought a new stake in Safety Insurance Group during the third quarter worth $800,000. Mercer Global Advisors Inc. ADV grew its holdings in Safety Insurance Group by 36.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,559 shares of the insurance provider’s stock worth $745,000 after buying an additional 2,546 shares in the last quarter. Engineers Gate Manager LP grew its holdings in Safety Insurance Group by 3.3% during the fourth quarter. Engineers Gate Manager LP now owns 9,004 shares of the insurance provider’s stock worth $702,000 after buying an additional 287 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Safety Insurance Group by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock worth $689,000 after buying an additional 389 shares in the last quarter. Finally, Nebula Research & Development LLC grew its holdings in Safety Insurance Group by 69.9% during the second quarter. Nebula Research & Development LLC now owns 5,593 shares of the insurance provider’s stock worth $444,000 after buying an additional 2,301 shares in the last quarter. Institutional investors own 81.04% of the company’s stock.
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.