Safety Insurance Group (SAFT) Projected to Post Earnings on Wednesday

Safety Insurance Group (NASDAQ:SAFT) is expected to issue its results before the market opens on Wednesday, May 6th. Analysts expect the company to announce earnings of $1.45 per share and revenue of $323.1890 million for the quarter.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.23. Safety Insurance Group had a net margin of 7.85% and a return on equity of 9.64%. The business had revenue of $319.34 million during the quarter.

Safety Insurance Group Stock Performance

Shares of SAFT opened at $75.62 on Monday. The company has a market capitalization of $1.11 billion, a PE ratio of 11.29 and a beta of 0.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. The company’s 50 day moving average price is $74.70 and its 200 day moving average price is $75.45. Safety Insurance Group has a 52 week low of $67.04 and a 52 week high of $84.20.

Safety Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.9%. Safety Insurance Group’s dividend payout ratio (DPR) is 54.93%.

Insiders Place Their Bets

In other Safety Insurance Group news, major shareholder Corp Srb sold 14,151 shares of Safety Insurance Group stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $71.12, for a total value of $1,006,419.12. Following the completion of the sale, the insider directly owned 1,794,655 shares in the company, valued at $127,635,863.60. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 36,304 shares of company stock worth $2,728,283 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SAFT. PNC Financial Services Group Inc. boosted its holdings 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 worth $32,000 after purchasing an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Safety Insurance Group by 1,317.1% during 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 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 worth $39,000 after buying an additional 431 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Safety Insurance Group during the 4th quarter worth about $52,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Safety Insurance Group by 309.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,130 shares of the insurance provider’s stock worth $88,000 after acquiring an additional 854 shares in the last quarter. Institutional investors own 81.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SAFT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. Wall Street Zen raised Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Hold rating, According to data from 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.