Safety Insurance Group Q4 2023 Adj EPS $0.30 Misses $0.77 Estimate, Sales $226.03M Up From $193.15M YoY

2/27/24 5:14:52 PM ET

Property-Casualty Insurers

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Safety Insurance Group (NASDAQ:SAFT) reported quarterly earnings of $0.30 per share which missed the analyst consensus estimate of $0.77 by 61.04 percent. This is a 69.39 percent decrease over earnings of $0.98 per share from the same period last year. The company reported $226.03 million in sales this quarter. This is a 17.02 percent increase over sales of $193.15 million the same period last year.

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Safety Insurance Group, Inc. Announces Third Quarter 2024 Results and Declares Fourth Quarter 2024 Dividend
Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") today reported third quarter 2024 results. George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: "The direct written premium growth that Safety has experienced is impacting our top-line revenue, which increased by 21.9% for the nine months ended September 30, 2024 over the prior year. We continue to see increased policy counts and premium rate actions that are earning into our results and contributing to improvements in our loss ratios. While private passenger automobile loss severity trends remain higher than historical averages, we are seeing moderation during the curr
11/5/24 4:05:00 PM ET
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Property-Casualty Insurers
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Safety Insurance Group, Inc. Announces Second Quarter 2024 Results and Declares Third Quarter 2024 Dividend
Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") today reported second quarter 2024 results. George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: "We are seeing the financial impact of both ongoing rate increases and growth in policy counts with net earned premium increasing by 22.1% for the second quarter of 2024 compared to 2023. However, the growth in policy counts combined with ongoing inflationary trends in the Private Passenger Automobile book of business has resulted in an increase in current year loss experience compared to second quarter of 2023." "For the quarter ended June 30, 2024, our combined ratio is
8/7/24 4:15:00 PM ET
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Property-Casualty Insurers
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AM Best Revises Issuer Credit Rating Outlook to Negative for Safety Insurance Group, Inc. and Its Key Subsidiaries
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of "a+" (Excellent) of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company and Safety Northeast Insurance Company. Collectively, these companies are referred to as Safety Group (Safety). The outlook of the FSR is stable. At the same time, AM Best has revised the outlook to negative from stable and affirmed the Long-Term ICR of "bbb+" (Good) of Safety Insurance Group, Inc. (Delaware) (NASDAQ:SAFT), the publicly traded parent of Safety. Al
6/18/24 3:05:00 PM ET
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Safety Insurance Group, Inc. Announces Third Quarter 2024 Results and Declares Fourth Quarter 2024 Dividend
Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") today reported third quarter 2024 results. George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: "The direct written premium growth that Safety has experienced is impacting our top-line revenue, which increased by 21.9% for the nine months ended September 30, 2024 over the prior year. We continue to see increased policy counts and premium rate actions that are earning into our results and contributing to improvements in our loss ratios. While private passenger automobile loss severity trends remain higher than historical averages, we are seeing moderation during the curr
11/5/24 4:05:00 PM ET
$SAFT
Property-Casualty Insurers
Finance
Safety Insurance Group, Inc. Announces Second Quarter 2024 Results and Declares Third Quarter 2024 Dividend
Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") today reported second quarter 2024 results. George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: "We are seeing the financial impact of both ongoing rate increases and growth in policy counts with net earned premium increasing by 22.1% for the second quarter of 2024 compared to 2023. However, the growth in policy counts combined with ongoing inflationary trends in the Private Passenger Automobile book of business has resulted in an increase in current year loss experience compared to second quarter of 2023." "For the quarter ended June 30, 2024, our combined ratio is
8/7/24 4:15:00 PM ET
$SAFT
Property-Casualty Insurers
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AM Best Revises Issuer Credit Rating Outlook to Negative for Safety Insurance Group, Inc. and Its Key Subsidiaries
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of "a+" (Excellent) of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company and Safety Northeast Insurance Company. Collectively, these companies are referred to as Safety Group (Safety). The outlook of the FSR is stable. At the same time, AM Best has revised the outlook to negative from stable and affirmed the Long-Term ICR of "bbb+" (Good) of Safety Insurance Group, Inc. (Delaware) (NASDAQ:SAFT), the publicly traded parent of Safety. Al
6/18/24 3:05:00 PM ET
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Ides Capital Delivers Letter Commenting on Recent Changes at Safety Insurance Group
Notes that Company Has Made Significant Changes as a Result of Ides' Engagement and Announces Withdrawal of Director Nominees Urges New Directors John Farina and Deborah Gray to Immediately Set a Tone of Enhanced Governance, Independence and Stakeholder and Shareholder Advocacy in the Boardroom Highlights Need for Additional ESG, Operational and Strategic Improvements at the Company Ides Will Continue to Monitor Safety's Progress and Will Not Hesitate to Consider Any and All Steps to Improve Shareholder Value Going Forward Ides Capital Management, LP (together with its affiliates, "Ides") is a New York-based investment advisor that engages with corporate boards and management teams to d
3/31/22 8:00:00 AM ET
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Safety Announces Board Refreshment With the Addition of John D. Farina and Deborah E. Gray
Two New Independent Directors Enhance Extensive Insurance, Finance, Data Privacy and Security, Legal, and Governance Expertise on the Board To File Preliminary Proxy Statement That Includes Proposals to Further Enhance Shareholder Rights Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") announced today the appointments of John D. Farina and Deborah E. Gray to its Board of Directors, effective immediately and several governance enhancements for which the Board will solicit support in advance of the upcoming annual meeting of stockholders (the "Annual Meeting"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20
3/25/22 4:51:00 PM ET
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Ides Capital Sends Letter to Safety Insurance Group Board of Directors
Disappointed that Board Has Refused to Engage Privately Around Stock Price Underperformance, ESG and Sustainability Deficiencies, and Subpar Capital Allocation Believes Company's Recently Announced and Reactive Share Buyback Falls Well Short of What Shareholders Deserve and Safety Could Undertake Highlights How Company Has Failed to Sufficiently Address Numerous Areas of Concern that Ides Has Raised Will Continue to Take Steps to Protect Best Interests of All Shareholders – Including the Election of Ides' Two Highly Qualified and Fully Independent Director Nominees – While Remaining Open to Constructive Engagement Ides Capital Management LP ("Ides Capital"), a shareholder of Safety Insu
3/2/22 8:30:00 AM ET
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Safety Insurance Group Q1 EPS $0.93 Beats $0.50 Estimate, Sales $268.23M Up From $213.76M YoY
Safety Insurance Group (NASDAQ:SAFT) reported quarterly earnings of $0.93 per share which beat the analyst consensus estimate of $0.50 by 86 percent. This is a 206.9 percent increase over losses of $(0.87) per share from the same period last year. The company reported $268.23 million in sales this quarter. This is a 25.48 percent increase over sales of $213.76 million the same period last year.
5/8/24 5:25:39 PM ET
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Safety Insurance Group Q4 2023 Adj EPS $0.30 Misses $0.77 Estimate, Sales $226.03M Up From $193.15M YoY
Safety Insurance Group (NASDAQ:SAFT) reported quarterly earnings of $0.30 per share which missed the analyst consensus estimate of $0.77 by 61.04 percent. This is a 69.39 percent decrease over earnings of $0.98 per share from the same period last year. The company reported $226.03 million in sales this quarter. This is a 17.02 percent increase over sales of $193.15 million the same period last year.
2/27/24 5:14:52 PM ET
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Safety Insurance Group Q4 2023 Adj EPS $0.30 Misses $0.77 Estimate, Sales $226.03M Up From $193.15M YoY

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Recent Analyst Ratings for
$SAFT

$SAFT
Press Releases

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Safety Insurance Group, Inc. Announces Third Quarter 2024 Results and Declares Fourth Quarter 2024 Dividend

Safety Insurance Group, Inc. Announces Second Quarter 2024 Results and Declares Third Quarter 2024 Dividend

AM Best Revises Issuer Credit Rating Outlook to Negative for Safety Insurance Group, Inc. and Its Key Subsidiaries

$SAFT
Financials

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Safety Insurance Group, Inc. Announces Third Quarter 2024 Results and Declares Fourth Quarter 2024 Dividend

Safety Insurance Group, Inc. Announces Second Quarter 2024 Results and Declares Third Quarter 2024 Dividend

AM Best Revises Issuer Credit Rating Outlook to Negative for Safety Insurance Group, Inc. and Its Key Subsidiaries

$SAFT
SEC Filings

SEC Form 10-Q filed by Safety Insurance Group Inc.

SEC Form SCHEDULE 13G filed by Safety Insurance Group Inc.

Safety Insurance Group Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

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Insider Trading

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Large Ownership Changes

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Ides Capital Delivers Letter Commenting on Recent Changes at Safety Insurance Group

Safety Announces Board Refreshment With the Addition of John D. Farina and Deborah E. Gray

Ides Capital Sends Letter to Safety Insurance Group Board of Directors

VP of Insurance Operations Lam Brian Siu-Gae sold $18,410 worth of shares (226 units at $81.46), decreasing direct ownership by 6% to 3,518 units (SEC Form 4)

VP OF ACTUARIAL SERVICES Hiltpold Glenn sold $32,835 worth of shares (389 units at $84.41), decreasing direct ownership by 3% to 11,204 units (SEC Form 4)

Director Brophy Charles Joseph Iii bought $78,800 worth of shares (1,000 units at $78.80), increasing direct ownership by 11% to 10,000 units (SEC Form 4)

SEC Form SC 13G/A filed by Safety Insurance Group Inc. (Amendment)

SEC Form SC 13G/A filed by Safety Insurance Group Inc. (Amendment)

SEC Form SC 13G filed by Safety Insurance Group Inc.

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Insider Purchases

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Director Brophy Charles Joseph Iii bought $78,800 worth of shares (1,000 units at $78.80), increasing direct ownership by 11% to 10,000 units (SEC Form 4)

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Market Insights

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Safety Insurance Group Q1 EPS $0.93 Beats $0.50 Estimate, Sales $268.23M Up From $213.76M YoY