Safety Insurance Group, Inc.
- Open
- 103.42
- Day high
- 103.55
- Day low
- 103.39
- Prev close
- 103.36
- Volume
- 127K
- Mkt cap
- $1.5B
- P/E (TTM)
- 22.1
- EPS (TTM)
- $4.68
- P/B
- 1.7
- P/S
- 1.0
- Yield
- 3.55%
- Per share
- $3.68
- ▼Insiders net selling -$135.0M over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions mixed (13F)
Safety Insurance Group, Inc. (SAFT) is a Financial Services company listed on NASDAQ. The stock is up 40% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
Safety Insurance Group, Inc. (SAFT) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SAFT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $2.00 | $2.03 | +1.5% | $342M | -34.4% |
| May 6, 2026 | $1.45 | $-0.72 | -149.7% | $300M | -4.8% |
| Feb 25, 2026 | $1.28 | $1.37 | +7.0% | $319M | — |
| Aug 6, 2025 | $1.60 | $1.45 | -9.4% | $316M | — |
| Feb 27, 2024 | $0.77 | $0.30 | -61.0% | $256M | — |
| Nov 1, 2023 | $1.00 | $0.59 | -41.0% | $227M | — |
| Aug 2, 2023 | $1.20 | $0.80 | -33.3% | $229M | — |
| May 3, 2023 | $1.00 | $-0.87 | -187.0% | $213M | — |
| Feb 22, 2023 | $1.10 | $0.98 | -10.9% | $224M | — |
| Nov 2, 2022 | $1.15 | $1.13 | -1.7% | $192M | — |
| Aug 3, 2022 | $1.05 | $1.91 | +81.9% | $178M | — |
| May 4, 2022 | $1.15 | $0.99 | -13.9% | $192M | — |
SAFT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 28, 2026 | SRB CORP10 percent owner | Sell | 466,175 | $103.09 |
| Jul 28, 2026 | SRB CORP10 percent owner | Sell | 774,177 | $103.05 |
| Jul 27, 2026 | SRB CORP10 percent owner | Sell | 38,835 | $103.08 |
| Jul 20, 2026 | SRB CORP10 percent owner | Sell | 5,159 | $76.03 |
| Jul 14, 2026 | SRB CORP10 percent owner | Sell | 34,272 | $76.04 |
| Jul 10, 2026 | SRB CORP10 percent owner | Sell | 2,650 | $76.51 |
| Mar 23, 2026 | SRB CORP10 percent owner | Sell | 14,151 | $71.12 |
| Mar 19, 2026 | SRB CORP10 percent owner | Sell | 1,199 | $73.06 |
| Mar 3, 2026 | Whitford Christopher Thomasofficer: VP, CFO AND SECRETARY | Tax | 68 | $77.43 |
| Mar 3, 2026 | Hiltpold Glennofficer: VP OF ACTUARIAL SERVICES | Tax | 72 | $76.79 |
| Mar 3, 2026 | Hiltpold Glennofficer: VP OF ACTUARIAL SERVICES | Tax | 183 | $76.94 |
| Mar 3, 2026 | Drago John Patrickofficer: VP - MARKETING | Tax | 283 | $76.86 |
| Mar 3, 2026 | Lam Brian Siu-Gaeofficer: VP of Insurance Operations | Tax | 38 | $76.95 |
| Mar 3, 2026 | Lam Brian Siu-Gaeofficer: VP of Insurance Operations | Tax | 8 | $77.42 |
| Mar 3, 2026 | Murphy Georgedirector, officer: PRESIDENT AND CEO | Tax | 839 | $77.43 |
Source: SAFT SEC Form 4 filings, latest Jul 28, 2026. For informational purposes only — not investment advice.
See the full SAFT insider & 13F page →Safety Insurance Group, Inc. company profile
Overview
Safety Insurance Group, Inc. (NASDAQ:SAFT) is a regional property and casualty insurance company founded in 1979 and headquartered in Boston, Massachusetts. The company went public in November 2002 and has established itself as a specialized insurer serving the New England market, with a particular focus on Massachusetts. Safety Insurance operates as a traditional insurance carrier, providing coverage primarily for private passenger automobiles, commercial vehicles, and homeowners insurance through a network of independent insurance agents.
Business
Safety Insurance Group operates in the property and casualty insurance industry, which provides financial protection against losses from accidents, natural disasters, and liability claims. Property insurance covers physical assets like homes and vehicles, while casualty insurance protects against legal liability for injuries or damages caused to others. The company's core business segments include: 1. Private Passenger Automobile Insurance (primary revenue driver): This segment provides comprehensive coverage for personal vehicles, including bodily injury and property damage liability (protecting others if the policyholder causes an accident), personal injury protection or no-fault coverage (covering medical expenses for the policyholder and passengers regardless of fault), and physical damage coverage (protecting the policyholder's own vehicle against collision, theft, vandalism, and other perils). This represents the largest portion of Safety's business. 2. Commercial Automobile Insurance: This segment covers business vehicles ranging from small delivery vans to large commercial fleets, including trucks, tractors, and trailers. Commercial auto insurance typically carries higher premiums than personal auto due to increased risk exposure and liability limits. 3. Homeowners Insurance: This provides coverage for residential properties including single-family homes, condominiums, and apartments. Homeowners policies protect against property damage from fire, theft, weather events, and other covered perils, while also providing liability coverage for accidents that occur on the property. 4. Business Owners Policies: These are packaged insurance products designed for small to medium-sized businesses, covering property damage, business interruption, and general liability in a single policy. This segment targets apartments, restaurants, office condominiums, and various service businesses. 5. Specialty Lines: Including personal and commercial umbrella policies (providing additional liability coverage above base policy limits), dwelling fire insurance for rental properties, inland marine coverage for valuable personal property, and watercraft insurance for pleasure boats.
Revenue model
Safety Insurance operates under the traditional insurance business model, generating revenue primarily through premium collections from policyholders. The company collects premiums upfront when policies are purchased or renewed, then pays out claims as they occur. Profitability depends on maintaining a favorable loss ratio - collecting more in premiums than paid out in claims and expenses. The company's revenue streams include: 1. Net Premiums Earned: The primary revenue source, representing premiums collected from policyholders after accounting for reinsurance costs. Based on recent financial data, Safety generates approximately $290-300 million in quarterly premium revenue. 2. Investment Income: Insurance companies invest the "float" - premiums collected but not yet paid out as claims - in bonds, stocks, and other securities. This investment income provides an additional revenue stream and can significantly impact profitability. 3. Fee Income: Various policy fees and service charges collected from policyholders. Safety's customers are primarily individual consumers purchasing auto and homeowners insurance, along with small to medium-sized businesses buying commercial coverage. The company distributes its products exclusively through independent insurance agents who represent multiple insurance companies and earn commissions on policies sold. Several factors influence Safety's profit margins: Margin-enhancing factors include favorable weather conditions (reducing property claims), improved road safety and vehicle technology (reducing auto accidents), effective underwriting and risk selection, successful rate increases approved by state regulators, and strong investment market performance. Margin-pressuring factors include severe weather events and natural disasters, increased accident frequency or severity, rising medical costs and auto repair expenses, competitive pricing pressure in the market, adverse legal and regulatory changes, and poor investment market performance. The company's concentration in Massachusetts also creates geographic risk exposure to regional catastrophic events.
Competitive moat
Safety Insurance operates in a moderately competitive industry with limited but meaningful competitive advantages. The company's primary moat stems from its regulatory barriers and regional market position. Insurance is a heavily regulated industry requiring substantial capital, regulatory approval for rate changes, and compliance expertise, which creates barriers to entry for new competitors. Safety's specific competitive advantages include: 1. Regional Market Knowledge: Deep understanding of Massachusetts market conditions, regulations, and customer preferences developed over 45 years of operation provides advantages in pricing, underwriting, and claims handling. 2. Established Agent Network: Long-standing relationships with independent agents who know the local market and have established customer bases create distribution advantages and switching costs. 3. Regulatory Relationships: Experience navigating Massachusetts insurance regulations and established relationships with state regulators provide operational advantages. 4. Scale Economies: Sufficient size to spread fixed costs across a meaningful premium base while remaining focused enough to maintain underwriting discipline. However, Safety's moat is relatively narrow and faces several competitive pressures: Competitive threats include large national insurers with superior scale and resources (like State Farm, Allstate, and Progressive), direct-to-consumer insurers bypassing the agent channel with lower costs, technology-driven competitors using telematics and AI for better risk assessment, and potential market disruption from autonomous vehicles and mobility-as-a-service models. The company's concentration in Massachusetts, while providing regional expertise, also limits growth opportunities and creates vulnerability to local market conditions. Safety lacks the scale advantages of national carriers and faces ongoing pressure to maintain competitive pricing while preserving underwriting discipline.
Risks & safety
Safety Insurance demonstrates solid financial stability with adequate capitalization and liquidity, though profitability has been modest in recent periods. Liquidity and Solvency: • Cash and short-term investments: $64.7 million (Q1 2025) • Current ratio: 23.35 (Q1 2025), indicating strong short-term liquidity • Debt-to-equity ratio: 5.3% (Q1 2025), representing minimal leverage • No significant solvency concerns with total assets of $2.29 billion vs. total liabilities of $1.44 billion Valuation Metrics: • Price-to-earnings ratio: 13.3x (Q1 2025), reasonable for insurance sector • Price-to-book ratio: 1.36x (Q1 2025), modest premium to book value • Return on equity: 2.6% (Q1 2025), below historical norms but improving from recent lows Other Considerations: • Regulatory capital requirements appear well-maintained • Geographic concentration in Massachusetts creates some risk concentration • Investment portfolio subject to market volatility impacts • Modest profitability levels provide limited buffer against adverse developments
Recent development
Based on available financial data, Safety Insurance has focused on maintaining operational stability and financial discipline rather than pursuing major strategic pivots. The company has demonstrated consistent premium revenue generation with quarterly revenues typically ranging from $268-301 million, indicating stable market position and customer retention. Key operational developments include: Financial Performance Stabilization: After experiencing challenges in 2023 with lower profitability, the company has shown improvement in 2024 with annual net income of $70.7 million compared to $18.9 million in 2023, suggesting better underwriting results and operational efficiency. Investment Management: The company has maintained a conservative investment approach with substantial cash and short-term investment positions, reflecting prudent risk management during uncertain market conditions. Capital Management: Safety has maintained strong capitalization with minimal debt levels (debt-to-equity ratio consistently below 6%), providing financial flexibility and regulatory compliance cushion. Market Position Maintenance: The company has continued to operate through its established independent agent distribution network, maintaining its regional focus rather than pursuing geographic expansion or direct-to-consumer initiatives. The absence of major strategic announcements or business model changes suggests Safety has prioritized operational consistency and financial stability over aggressive growth initiatives, which is typical for regional property and casualty insurers during periods of market uncertainty.
SAFT company profile · for informational purposes only — not investment advice.
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