Safety Insurance Group (NASDAQ:SAFT) Releases Earnings Results, Beats Expectations By $0.23 EPS

Safety Insurance Group (NASDAQ:SAFT) posted its quarterly earnings data on Wednesday. The insurance provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.23, FiscalAI reports. Safety Insurance Group had a return on equity of 8.85% and a net margin of 7.09%.

Safety Insurance Group Stock Up 1.3%

SAFT stock traded up $1.02 during mid-day trading on Wednesday, reaching $78.46. The company had a trading volume of 61,248 shares, compared to its average volume of 74,558. The firm has a fifty day simple moving average of $77.80 and a 200 day simple moving average of $74.72. 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 $1.17 billion, a price-to-earnings ratio of 13.32 and a beta of 0.22. Safety Insurance Group has a fifty-two week low of $67.04 and a fifty-two week high of $84.20.

Safety Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be given a $0.92 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.68 dividend on an annualized basis and a yield of 4.7%. Safety Insurance Group’s dividend payout ratio (DPR) is currently 62.48%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Safety Insurance Group

In related news, major shareholder Corp Srb sold 3,231 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $77.14, for a total value of $249,239.34. Following the sale, the insider owned 1,834,964 shares of the company’s stock, valued at $141,549,122.96. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of Safety Insurance Group by 62.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Safety Insurance Group by 1,317.1% in the second quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock valued at $39,000 after buying an additional 461 shares during the last quarter. Parallel Advisors LLC raised its stake in 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 buying an additional 431 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Safety Insurance Group during the 4th quarter worth about $52,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of 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 valued at $88,000 after acquiring an additional 854 shares during the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

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.