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

Safety Insurance Group (NASDAQ:SAFT) released its earnings results on Monday. The insurance provider reported $1.48 EPS 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 Trading Down 0.7%

Safety Insurance Group stock traded down $0.50 during midday trading on Monday, reaching $68.23. The stock had a trading volume of 93,134 shares, compared to its average volume of 69,575. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 11.95 and a beta of 0.26. Safety Insurance Group has a 52-week low of $67.04 and a 52-week high of $90.00. The company has a fifty day moving average of $71.16 and a 200 day moving average of $74.69.

Safety Insurance Group Increases Dividend

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

Insider Buying and Selling at Safety Insurance Group

In other Safety Insurance Group news, Director Dennis J. Langwell purchased 2,000 shares of Safety Insurance Group stock in a transaction dated Friday, September 5th. The shares were purchased at an average cost of $72.39 per share, for a total transaction of $144,780.00. Following the completion of the acquisition, the director owned 8,000 shares in the company, valued at $579,120. This represents a 33.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 4,055 shares of company stock valued at $291,705 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Safety Insurance Group

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SAFT shares. Wall Street Zen downgraded shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

About Safety Insurance Group

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.