Safety Insurance Group, Inc. (NASDAQ:SAFT) to Issue Dividend Increase - $0.92 Per Share

Key Points

• Safety Insurance Group, Inc. announced a quarterly dividend of $0.92 per share, reflecting a 2.2% increase from the previous dividend of $0.90, with a yield of 5.2%.
• The company reported earnings of $1.45 per share, missing expectations of $1.60, with a net margin of 6.29% and revenue of $345.83 million for the quarter.
• Safety Insurance's shares have been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a positive outlook for the company's future performance.

Safety Insurance Group, Inc. (NASDAQ:SAFT - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Tuesday, September 2nd will be given a dividend of 0.92 per share by the insurance provider on Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, September 2nd. This is a 2.2% increase from Safety Insurance Group's previous quarterly dividend of $0.90.

Safety Insurance Group has a dividend payout ratio of 51.4% indicating that its dividend is sufficiently covered by earnings.

Safety Insurance Group Stock Performance

Shares of SAFT traded up $1.40 during mid-day trading on Monday, reaching $72.35. 170,916 shares of the company's stock traded hands, compared to its average volume of 77,497. The business's 50-day moving average price is $75.13 and its 200-day moving average price is $77.16. The stock has a market capitalization of $1.08 billion, a P/E ratio of 12.67 and a beta of 0.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.42 and a current ratio of 0.42. Safety Insurance Group has a 12 month low of $68.76 and a 12 month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.15). Safety Insurance Group had a return on equity of 8.34% and a net margin of 7.07%. The firm had revenue of $345.83 million for the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile, and homeowner insurance in the United States. The company's private passenger automobile policies offer coverage for bodily injury and property damage to others, no-fault personal injury coverage for the insured/insured's car occupants, and physical damage coverage for an insured's own vehicle for collision or other perils.