Safety Insurance Group (NASDAQ:SAFT) Releases Quarterly Earnings Results, Beats Expectations By $0.70 EPS

Safety Insurance Group (NASDAQ:SAFT) released its earnings results on Wednesday. The insurance provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.70, FiscalAI reports. The company had revenue of $327.77 million for the quarter, compared to analysts’ expectations of $533.84 million. Safety Insurance Group had a net margin of 5.33% and a return on equity of 7.23%.

Safety Insurance Group Price Performance

SAFT traded up $0.10 during trading on Wednesday, reaching $104.35. 316,909 shares of the company traded hands, compared to its average volume of 131,330. The company has a market cap of $1.53 billion, a P/E ratio of 22.49 and a beta of 0.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.41 and a current ratio of 0.41. Safety Insurance Group has a 12-month low of $67.93 and a 12-month high of $104.40. The firm has a fifty day simple moving average of $103.72 and a 200 day simple moving average of $84.95.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Safety Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Safety Insurance Group presently has a consensus rating of “Moderate Buy”.

About Safety Insurance Group

Safety Insurance Group, Inc is an insurance holding company that provides property and casualty insurance products primarily through its subsidiary, Safety Insurance Company. The company focuses on personal and commercial insurance coverage for individuals, families, and businesses.

Its product offerings include private passenger automobile insurance, homeowners insurance, dwelling fire coverage, business owners policies, commercial automobile insurance, and related property and liability products.