Safety Insurance Group (NASDAQ:SAFT) Posts Quarterly Earnings Results, Misses Expectations By $0.30 EPS

Safety Insurance Group (NASDAQ:SAFT) released its earnings results on Tuesday. The insurance provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.30), Zacks reports. Safety Insurance Group had a return on equity of 5.53% and a net margin of 4.96%. The business had revenue of $295.28 million for the quarter.

Safety Insurance Group Trading Down 3.3 %

NASDAQ SAFT traded down $2.89 during trading hours on Thursday, hitting $85.41. 73,126 shares of the company’s stock were exchanged, compared to its average volume of 51,947. The stock has a 50-day simple moving average of $81.93 and a 200 day simple moving average of $80.57. Safety Insurance Group has a 1-year low of $71.99 and a 1-year high of $90.00. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 24.76 and a beta of 0.17.

Safety Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.60 annualized dividend and a yield of 4.21%. Safety Insurance Group’s dividend payout ratio is currently 104.35%.

Analysts Set New Price Targets

Separately, StockNews.com cut Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Buying and Selling

In other Safety Insurance Group news, VP Glenn Hiltpold sold 389 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.41, for a total value of $32,835.49. Following the transaction, the vice president now owns 11,204 shares in the company, valued at approximately $945,729.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 915 shares of company stock valued at $75,125 over the last 90 days. Company insiders own 2.00% of the company’s stock.

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.