Safety Insurance Group (SAFT) Expected to Announce Quarterly Earnings on Wednesday

Safety Insurance Group (NASDAQ:SAFT) is anticipated to issue its results after the market closes on Wednesday, February 25th. Analysts expect the company to announce earnings of $1.28 per share for the quarter.

Safety Insurance Group Price Performance

Shares of NASDAQ:SAFT traded down $0.48 during midday trading on Tuesday, reaching $77.10. 18,255 shares of the company’s stock traded hands, compared to its average volume of 73,614. The company has a fifty day simple moving average of $77.82 and a two-hundred day simple moving average of $74.67. Safety Insurance Group has a 1 year low of $67.04 and a 1 year high of $84.20. The company has a market cap of $1.15 billion, a P/E ratio of 13.09 and a beta of 0.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.41 and a current ratio of 0.41.

Safety Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.8%. Safety Insurance Group’s dividend payout ratio is presently 62.48%.

Institutional Investors Weigh In On Safety Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in SAFT. Goldman Sachs Group Inc. raised its stake in shares of Safety Insurance Group by 353.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 306,554 shares of the insurance provider’s stock valued at $23,884,000 after acquiring an additional 238,946 shares in the last quarter. AQR Capital Management LLC raised its position in Safety Insurance Group by 62.6% in the 4th quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider’s stock valued at $23,741,000 after purchasing an additional 117,261 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Safety Insurance Group by 224.8% in the 3rd quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider’s stock valued at $9,879,000 after buying an additional 96,728 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Safety Insurance Group by 175.5% during the third quarter. Qube Research & Technologies Ltd now owns 116,269 shares of the insurance provider’s stock worth $8,219,000 after buying an additional 74,059 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Safety Insurance Group by 388.0% during the third quarter. Two Sigma Investments LP now owns 86,026 shares of the insurance provider’s stock worth $6,081,000 after buying an additional 68,399 shares during the period. 81.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

About Safety Insurance Group

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.