Safety Insurance Group (SAFT) Projected to Release Earnings on Wednesday

Safety Insurance Group (NASDAQ:SAFT) is projected to post 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) last released its quarterly earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). The company had revenue of $314.67 million during the quarter, compared to the consensus estimate of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. 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 Trading Up 0.0%

Shares of SAFT stock opened at $103.03 on Wednesday. Safety Insurance Group has a 1-year low of $67.04 and a 1-year high of $103.50. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 24.36 and a beta of 0.21. The stock has a 50-day moving average of $74.71 and a 200-day moving average of $75.13.

Safety Insurance Group Dividend Announcement

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

Analyst Upgrades and Downgrades

SAFT has been the subject of several analyst reports. Zacks Research upgraded shares of Safety Insurance Group to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings raised shares of Safety Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Wall Street Zen upgraded shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Safety Insurance Group has a consensus rating of “Hold”.

Insider Activity

In related news, major shareholder Corp Srb sold 1,240,352 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $103.07, for a total transaction of $127,843,080.64. Following the sale, the insider owned 473,387 shares in the company, valued at $48,791,998.09. This represents a 72.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 1,316,109 shares of company stock valued at $134,654,987. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Safety Insurance Group

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in shares of Safety Insurance Group by 62.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake 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 in the last quarter. Parallel Advisors LLC increased its stake in shares of Safety Insurance Group by 653.0% in the 4th quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 431 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Safety Insurance Group during the 4th quarter valued at $52,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Safety Insurance Group by 309.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,130 shares of the insurance provider’s stock valued at $88,000 after acquiring an additional 854 shares during the period. 81.04% of the stock is owned by institutional investors and hedge funds.

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.