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

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

Safety Insurance Group Stock Down 0.5%

SAFT stock opened at $78.38 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.41 and a quick ratio of 0.41. The company’s 50 day simple moving average is $77.84 and its 200-day simple moving average is $74.51. Safety Insurance Group has a 12 month low of $67.04 and a 12 month high of $84.20. The firm has a market capitalization of $1.17 billion, a PE ratio of 13.31 and a beta of 0.22.

Safety Insurance Group Dividend Announcement

The business 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. This represents a $3.68 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Monday, March 2nd. Safety Insurance Group’s dividend payout ratio is 62.48%.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

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, According to data from MarketBeat, the stock currently 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.