Safety Insurance Group (SAFT) Expected to Announce Quarterly Earnings on Wednesday

Key Points

• Safety Insurance Group is expected to report quarterly results before the market opens on May 6 with analysts forecasting EPS of $1.45 and revenue of $323.19 million; in the prior quarter the company posted $1.51 EPS, beating estimates.
• The company recently paid a quarterly dividend of $0.92 (annualized $3.68), representing a 4.8% yield and a payout ratio of about 54.9%.
• Shares trade with a market capitalization of about $1.13 billion and a PE of 11.5, a 52‑week range of $67.04–$84.20, and carry an average analyst rating of "Hold" despite a recent upgrade to "Buy" from Wall Street Zen.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) is expected to be announcing its results before the market opens on Wednesday, May 6th. Analysts expect the company to announce earnings of $1.45 per share and revenue of $323.1890 million for the quarter.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.23. The company had revenue of $319.34 million during the quarter. Safety Insurance Group had a net margin of 7.85% and a return on equity of 9.64%.

Safety Insurance Group Stock Up 1.0%

Shares of NASDAQ:SAFT opened at $77.22 on Wednesday. The company has a fifty day moving average of $74.83 and a 200-day moving average of $75.37. The company has a market capitalization of $1.13 billion, a PE ratio of 11.53 and a beta of 0.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. Safety Insurance Group has a 52-week low of $67.04 and a 52-week high of $84.20.

Safety Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.92 per share. The ex-dividend date was Monday, March 2nd. This represents a $3.68 annualized dividend and a dividend yield of 4.8%. Safety Insurance Group's dividend payout ratio is 54.93%.

Insiders Place Their Bets

In related news, major shareholder Corp Srb sold 14,151 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $71.12, for a total value of $1,006,419.12. Following the completion of the sale, the insider directly owned 1,794,655 shares in the company, valued at $127,635,863.60. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 36,304 shares of company stock valued at $2,728,283 in the last three months. Corporate insiders own 2.20% of the company's stock.

Institutional Trading of Safety Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV grew its holdings in Safety Insurance Group by 36.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,559 shares of the insurance provider's stock worth $745,000 after acquiring an additional 2,546 shares during the period. XTX Topco Ltd grew its holdings in Safety Insurance Group by 2.8% during the 4th quarter. XTX Topco Ltd now owns 4,745 shares of the insurance provider's stock worth $370,000 after acquiring an additional 127 shares during the period. Engineers Gate Manager LP grew its holdings in Safety Insurance Group by 3.3% during the 4th quarter. Engineers Gate Manager LP now owns 9,004 shares of the insurance provider's stock worth $702,000 after acquiring an additional 287 shares during the period. AQR Capital Management LLC grew its holdings in Safety Insurance Group by 62.6% during the 4th quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider's stock worth $23,741,000 after acquiring an additional 117,261 shares during the period. Finally, Dean Investment Associates LLC grew its holdings in Safety Insurance Group by 531.9% during the 4th quarter. Dean Investment Associates LLC now owns 48,900 shares of the insurance provider's stock worth $3,810,000 after acquiring an additional 41,161 shares during the period. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Safety Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Weiss Ratings restated a "hold (c)" rating on shares of Safety Insurance Group in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Safety Insurance Group 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.

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