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

Safety Insurance Group (NASDAQ:SAFT) issued its quarterly earnings results on Wednesday. The insurance provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.23, FiscalAI reports. Safety Insurance Group had a net margin of 7.09% and a return on equity of 8.85%.

Safety Insurance Group Trading Up 1.3%

SAFT stock traded up $1.02 during midday trading on Wednesday, reaching $78.46. 61,248 shares of the company’s stock traded hands, compared to its average volume of 74,555. The company has a market capitalization of $1.17 billion, a P/E ratio of 13.32 and a beta of 0.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.41 and a quick ratio of 0.41. Safety Insurance Group has a fifty-two week low of $67.04 and a fifty-two week high of $84.20. The business has a 50-day moving average price of $77.80 and a two-hundred day moving average price of $74.72.

Safety Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be issued a $0.92 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.68 annualized dividend and a yield of 4.7%. Safety Insurance Group’s dividend payout ratio (DPR) is presently 62.48%.

Institutional Trading of Safety Insurance Group

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in shares of Safety Insurance Group by 353.4% in the fourth 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 lifted its position 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 in the last quarter. Millennium Management LLC boosted its holdings in Safety Insurance Group by 224.8% in the 3rd quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider’s stock worth $9,879,000 after acquiring an additional 96,728 shares during the period. Qube Research & Technologies Ltd grew its position in Safety Insurance Group by 175.5% in the third quarter. Qube Research & Technologies Ltd now owns 116,269 shares of the insurance provider’s stock valued at $8,219,000 after acquiring an additional 74,059 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Safety Insurance Group by 388.0% in the third quarter. Two Sigma Investments LP now owns 86,026 shares of the insurance provider’s stock valued at $6,081,000 after acquiring an additional 68,399 shares in the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company 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.