Safety Insurance Group (NASDAQ:SAFT) Posts Quarterly Earnings Results

Safety Insurance Group (NASDAQ:SAFT) released its quarterly earnings data on Monday. The insurance provider reported $1.48 earnings per share for the quarter, Zacks reports. Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%.

Safety Insurance Group Stock Down 0.7%

Shares of SAFT traded down $0.50 during midday trading on Monday, hitting $68.23. 93,134 shares of the company’s stock traded hands, compared to its average volume of 69,575. Safety Insurance Group has a 1 year low of $67.04 and a 1 year high of $90.00. The firm’s fifty day moving average is $71.16 and its 200-day moving average is $74.69. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 11.95 and a beta of 0.26.

Safety Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a boost from Safety Insurance Group’s previous quarterly dividend of $0.90. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.4%. Safety Insurance Group’s payout ratio is currently 64.45%.

Wall Street Analyst Weigh In

SAFT has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Insider Transactions at Safety Insurance Group

In other Safety Insurance Group news, Director Dennis J. Langwell purchased 2,000 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was bought at an average cost of $72.39 per share, for a total transaction of $144,780.00. Following the completion of the purchase, the director owned 8,000 shares in the company, valued at $579,120. This represents a 33.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders bought 4,055 shares of company stock worth $291,705. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Safety Insurance Group

A number of institutional investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co increased its stake in Safety Insurance Group by 1.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 14,018 shares of the insurance provider’s stock valued at $1,112,000 after purchasing an additional 169 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Safety Insurance Group by 2.2% during the second quarter. Raymond James Financial Inc. now owns 17,804 shares of the insurance provider’s stock worth $1,413,000 after purchasing an additional 384 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Safety Insurance Group by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock worth $689,000 after buying an additional 389 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Safety Insurance Group by 1,317.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 461 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Safety Insurance Group by 9.9% in the first quarter. Royal Bank of Canada now owns 10,148 shares of the insurance provider’s stock worth $801,000 after acquiring an additional 914 shares during the period. 81.04% of the stock is currently owned by institutional investors and hedge funds.

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.