Safety Insurance Group, Inc. (NASDAQ:SAFT) Announces Quarterly Dividend of $0.92

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 Thursday, August 7th, Wall Street Journal reports. Investors 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) annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend 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 Trading Up 1.1%

SAFT traded up $0.78 during midday trading on Thursday, hitting $71.20. 155,928 shares of the company were exchanged, compared to its average volume of 64,220. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.04. Safety Insurance Group has a 1-year low of $68.76 and a 1-year high of $90.00. The firm's 50 day moving average price is $75.79 and its 200-day moving average price is $77.32. The firm has a market capitalization of $1.06 billion, a P/E ratio of 14.56 and a beta of 0.26.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.60 by ($0.15). Safety Insurance Group had a return on equity of 7.99% and a net margin of 6.29%. The business had revenue of $345.83 million during the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Safety Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

About Safety Insurance Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.