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

Safety Insurance Group (NASDAQ:SAFT) is expected to post its results after the market closes on Wednesday, August 5th. Analysts expect the company to post earnings of $2.00 per share and revenue of $322.9010 million for the quarter.

Safety Insurance Group (NASDAQ:SAFT) last announced its earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($2.17). Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%.The business had revenue of $314.67 million for the quarter, compared to analyst estimates of $315.01 million. On average, analysts expect Safety Insurance Group to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Safety Insurance Group Price Performance

Safety Insurance Group stock opened at $103.19 on Tuesday. The company has a fifty day simple moving average of $77.13 and a 200-day simple moving average of $75.89. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 24.39 and a beta of 0.21. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. Safety Insurance Group has a 52-week low of $67.04 and a 52-week high of $103.57.

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were given a dividend of $0.92 per share. The ex-dividend date was Monday, June 1st. This represents a $3.68 dividend on an annualized basis and a yield of 3.6%. Safety Insurance Group’s payout ratio is presently 87.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SAFT. Wall Street Zen raised shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research raised shares of Safety Insurance Group to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings upgraded Safety Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Insider Buying and Selling at Safety Insurance Group

In other news, major shareholder Corp Srb sold 1,240,352 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $103.07, for a total transaction of $127,843,080.64. Following the transaction, the insider owned 473,387 shares of the company’s stock, valued at approximately $48,791,998.09. The trade was a 72.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,316,109 shares of company stock worth $134,654,987. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Safety Insurance Group

A number of institutional investors have recently bought and sold shares of SAFT. PNC Financial Services Group Inc. grew its stake 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 buying an additional 160 shares during the period. EverSource Wealth Advisors LLC raised its position 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 valued at $39,000 after buying an additional 461 shares during the period. Parallel Advisors LLC raised its position in shares of Safety Insurance Group by 653.0% during the 4th quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $39,000 after buying an additional 431 shares during the period. Los Angeles Capital Management LLC acquired a new position in Safety Insurance Group in the fourth quarter valued at approximately $52,000. Finally, Quadrant Capital Group LLC lifted its holdings in Safety Insurance Group by 309.4% in the fourth 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. 81.04% of the stock is owned by hedge funds and other institutional investors.

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.