Safety Insurance Group (NASDAQ:SAFT) Sets New 12-Month High - Here's Why

Key Points

• Safety Insurance Group shares reached a new 52-week high of $104.17, valuing the company at approximately $1.53 billion. The stock has a 22.44 price-to-earnings ratio and a 3.5% dividend yield.
• The company reported quarterly EPS of $2.03, exceeding analysts’ $2.00 estimate, while revenue of $325.68 million matched expectations. Analysts project full-year EPS of $4.15, and the stock carries a “Moderate Buy” consensus rating.
• Safety Insurance declared a quarterly dividend of $0.92 per share, or $3.68 annualized, with a payout ratio of 79.31%. Institutional investors own approximately 81.04% of outstanding shares.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) hit a new 52-week high during trading on Monday. The company traded as high as $104.17 and last traded at $104.16, with a volume of 78,043 shares trading hands. The stock had previously closed at $104.16.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Safety Insurance Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 17th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy".

Safety Insurance Group Trading Down 0.0%

The firm has a market cap of $1.53 billion, a PE ratio of 22.44 and a beta of 0.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a 50-day simple moving average of $103.63 and a two-hundred day simple moving average of $87.41.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.00 by $0.03. Safety Insurance Group had a net margin of 5.33% and a return on equity of 7.23%. The company had revenue of $325.68 million for the quarter, compared to the consensus estimate of $325.68 million. As a group, sell-side analysts anticipate that Safety Insurance Group, Inc. will post 4.15 EPS for the current year.

Safety Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, September 1st. Safety Insurance Group's dividend payout ratio (DPR) is currently 79.31%.

Institutional Investors Weigh In On Safety Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in SAFT. BlackRock Inc. bought a new stake in shares of Safety Insurance Group during the second quarter valued at approximately $171,385,000. Dimensional Fund Advisors LP boosted its holdings in Safety Insurance Group by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 711,806 shares of the insurance provider's stock worth $51,708,000 after buying an additional 3,319 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Safety Insurance Group during the 2nd quarter valued at approximately $10,513,000. Renaissance Technologies LLC boosted its holdings in Safety Insurance Group by 0.3% in the 1st quarter. Renaissance Technologies LLC now owns 140,400 shares of the insurance provider's stock worth $10,199,000 after buying an additional 400 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Safety Insurance Group by 2.0% in the first quarter. Principal Financial Group Inc. now owns 72,384 shares of the insurance provider's stock worth $5,258,000 after buying an additional 1,406 shares in the last quarter. Hedge funds and other institutional investors own 81.04% of the company's stock.

About Safety Insurance Group

Safety Insurance Group, Inc is an insurance holding company that provides property and casualty insurance products primarily through its subsidiary, Safety Insurance Company. The company focuses on personal and commercial insurance coverage for individuals, families, and businesses.

Its product offerings include private passenger automobile insurance, homeowners insurance, dwelling fire coverage, business owners policies, commercial automobile insurance, and related property and liability products.

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