Safety Insurance Group (NASDAQ:SAFT) Announces Earnings Results, Misses Estimates By $0.30 EPS

Safety Insurance Group (NASDAQ:SAFT) announced its quarterly earnings results on Tuesday. The insurance provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $295.28 million for the quarter.

Safety Insurance Group Stock Down 3.3 %

NASDAQ:SAFT traded down $2.94 on Thursday, reaching $85.36. The stock had a trading volume of 41,464 shares, compared to its average volume of 51,784. The company has a market capitalization of $1.27 billion, a P/E ratio of 25.59 and a beta of 0.17. Safety Insurance Group has a 1-year low of $71.99 and a 1-year high of $90.00. The stock has a fifty day moving average price of $82.00 and a 200-day moving average price of $80.54.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.90 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.60 annualized dividend and a dividend yield of 4.22%. Safety Insurance Group’s dividend payout ratio is currently 104.35%.

Insider Activity

In other news, VP Glenn Hiltpold sold 389 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.41, for a total transaction of $32,835.49. Following the sale, the vice president now owns 11,204 shares of the company’s stock, valued at $945,729.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 915 shares of company stock valued at $75,125 in the last ninety days. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.