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

Safety Insurance Group (NASDAQ:SAFT) announced its quarterly earnings data on Wednesday. The insurance provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.23, FiscalAI reports. The firm had revenue of $319.34 million for the quarter. Safety Insurance Group had a return on equity of 8.85% and a net margin of 7.09%.

Safety Insurance Group Trading Up 1.9%

SAFT traded up $1.47 on Thursday, hitting $79.93. The company had a trading volume of 6,859 shares, compared to its average volume of 72,711. The company’s fifty day moving average price is $77.78 and its 200 day moving average price is $74.74. Safety Insurance Group has a 1 year low of $67.04 and a 1 year high of $84.20. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.19 billion, a P/E ratio of 13.57 and a beta of 0.22.

Safety Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, March 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is presently 62.48%.

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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Insiders Place Their Bets

In other Safety Insurance Group news, major shareholder Corp Srb sold 4,089 shares of Safety Insurance Group stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $77.48, for a total transaction of $316,815.72. Following the completion of the sale, the insider directly owned 1,838,195 shares in the company, valued at $142,423,348.60. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Safety Insurance Group

Institutional investors have recently bought and sold shares of the company. XTX Topco Ltd lifted its position in shares of Safety Insurance Group by 2.8% during the fourth quarter. XTX Topco Ltd now owns 4,745 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 127 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Safety Insurance Group by 0.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,753 shares of the insurance provider’s stock valued at $1,851,000 after purchasing an additional 152 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Safety Insurance Group by 62.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after buying an additional 160 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Safety Insurance Group by 1.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 14,018 shares of the insurance provider’s stock worth $1,112,000 after buying an additional 169 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in Safety Insurance Group by 3.3% in the 4th quarter. Engineers Gate Manager LP now owns 9,004 shares of the insurance provider’s stock valued at $702,000 after buying an additional 287 shares during the period. 81.04% of the stock is owned by institutional investors and hedge funds.

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.