Safety Insurance Group (SAFT) to Release Earnings on Wednesday

Key Points

• Safety Insurance Group is expected to report earnings before the market opens Wednesday, August 5. Analysts forecast quarterly earnings of $2.00 per share on revenue of approximately $322.9 million, compared with the prior quarter’s $0.72-per-share loss.
• SAFT shares opened at $103.03, near their 12-month high of $103.50, while the company maintains a quarterly dividend of $0.92 per share, equivalent to a 3.6% annualized yield.
• Insider selling has been significant: a major shareholder sold 1.24 million shares for about $127.8 million, and insiders sold roughly $134.7 million of stock over the past 90 days. Analysts maintain an overall “Hold” rating, while institutional investors own 81.04% of shares.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) is expected to be releasing its results before the market opens on Wednesday, August 5th. Analysts expect the company to announce earnings of $2.00 per share and revenue of $322.9010 million for the quarter.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of $1.45 by ($2.17). Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%.The business had revenue of $314.67 million for the quarter, compared to the consensus estimate of $315.01 million. On average, analysts expect Safety Insurance Group to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Safety Insurance Group Stock Performance

Safety Insurance Group stock opened at $103.03 on Wednesday. Safety Insurance Group has a 12-month low of $67.04 and a 12-month high of $103.50. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. The business's 50-day moving average price is $74.71 and its two-hundred day moving average price is $75.13. The stock has a market cap of $1.51 billion, a PE ratio of 24.36 and a beta of 0.21.

Safety Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.6%. Safety Insurance Group's dividend payout ratio is 87.00%.

Insider Transactions at Safety Insurance Group

In other Safety Insurance Group news, major shareholder Corp Srb sold 1,240,352 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $103.07, for a total value of $127,843,080.64. Following the completion of the transaction, the insider directly owned 473,387 shares in the company, valued at approximately $48,791,998.09. This trade represents a 72.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 1,316,109 shares of company stock valued at $134,654,987. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in Safety Insurance Group by 353.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 306,554 shares of the insurance provider's stock worth $23,884,000 after buying an additional 238,946 shares during the period. AQR Capital Management LLC increased its position in Safety Insurance Group by 62.6% in the 4th quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider's stock valued at $23,741,000 after acquiring an additional 117,261 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Safety Insurance Group by 20.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 300,000 shares of the insurance provider's stock valued at $23,373,000 after acquiring an additional 51,400 shares during the period. Millennium Management LLC raised its stake in shares of Safety Insurance Group by 224.8% during the third quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider's stock valued at $9,879,000 after acquiring an additional 96,728 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Safety Insurance Group by 0.3% during the third quarter. Invesco Ltd. now owns 126,054 shares of the insurance provider's stock valued at $8,911,000 after acquiring an additional 373 shares during the last quarter. Institutional investors and hedge funds own 81.04% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SAFT shares. Weiss Ratings raised shares of Safety Insurance Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. Wall Street Zen raised shares of Safety Insurance Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, Zacks Research upgraded shares of Safety Insurance Group to a "hold" rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Safety Insurance Group Company Profile

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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