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Safety Insurance Group

DB:SFN
Snowflake Description

Solid track record with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SFN
DB
$1B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

Safety Insurance Group, Inc. provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, the United States. The last earnings update was 23 days ago. More info.


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SFN Share Price and Events
7 Day Returns
0.2%
DB:SFN
-0.7%
DE Insurance
-2.3%
DE Market
1 Year Returns
14.9%
DB:SFN
10.6%
DE Insurance
-11.5%
DE Market
SFN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Safety Insurance Group (SFN) 0.2% 0.7% 2.8% 14.9% 55.2% 120%
DE Insurance -0.7% -3.2% 4.8% 10.6% 33.8% 55.8%
DE Market -2.3% -4.9% 0.8% -11.5% 5.7% 6.6%
1 Year Return vs Industry and Market
  • SFN outperformed the Insurance industry which returned 10.6% over the past year.
  • SFN outperformed the Market in Germany which returned -11.5% over the past year.
Price Volatility
SFN
Industry
5yr Volatility vs Market

SFN Value

 Is Safety Insurance Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Safety Insurance Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Safety Insurance Group.

DB:SFN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $45.56 * 9.2%
$4.18
Book Value of Equity per Share Median Book Value from the past 5 years. $45.56
Discount Rate (Cost of Equity) See below 5.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:SFN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.726 (1 + (1- 21%) (2.57%))
0.826
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.826 * 5.96%)
5.15%

Discounted Cash Flow Calculation for DB:SFN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Safety Insurance Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:SFN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.2% – 5.15%) * $45.56)
$1.83
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $1.83 / (5.15% - 0.23%)
$37.26
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $45.56 + $37.26
$82.82
DB:SFN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SFN represents 0.88137x of NasdaqGS:SAFT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88137x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 82.82 x 0.88137
€72.99
Value per share (EUR) From above. €72.99
Current discount Discount to share price of €82.39
= -1 x (€82.39 - €72.99) / €72.99
-12.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Safety Insurance Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Safety Insurance Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Safety Insurance Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SFN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $6.85
NasdaqGS:SAFT Share Price ** NasdaqGS (2019-05-24) in USD $93.48
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 12.92x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 20.2x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Safety Insurance Group.

DB:SFN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:SAFT Share Price ÷ EPS (both in USD)

= 93.48 ÷ 6.85

13.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Safety Insurance Group is overvalued based on earnings compared to the DE Insurance industry average.
  • Safety Insurance Group is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Safety Insurance Group's expected growth come at a high price?
Raw Data
DB:SFN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-6.8%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.14x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Safety Insurance Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Safety Insurance Group's assets?
Raw Data
DB:SFN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $49.08
NasdaqGS:SAFT Share Price * NasdaqGS (2019-05-24) in USD $93.48
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.03x
Germany Market PB Ratio Median Figure of 577 Publicly-Listed Companies 1.77x
DB:SFN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:SAFT Share Price ÷ Book Value per Share (both in USD)

= 93.48 ÷ 49.08

1.9x

* Primary Listing of Safety Insurance Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Safety Insurance Group is overvalued based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Safety Insurance Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Safety Insurance Group has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SFN Future Performance

 How is Safety Insurance Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Safety Insurance Group, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-6.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Safety Insurance Group expected to grow at an attractive rate?
  • Safety Insurance Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Safety Insurance Group's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Unable to compare Safety Insurance Group's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:SFN Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SFN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -6.8%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:SFN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SFN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
DB:SFN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 849 122 103
2018-12-31 836 128 83
2018-09-30 847 122 76
2018-06-30 844 89 65
2018-03-31 844 79 59
2017-12-31 839 82 62
2017-09-30 833 73 63
2017-06-30 830 86 63
2017-03-31 825 98 64
2016-12-31 820 99 64
2016-09-30 814 109 63
2016-06-30 805 88 56

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Safety Insurance Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Safety Insurance Group is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:SFN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Safety Insurance Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SFN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
DB:SFN Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 6.85
2018-12-31 5.48
2018-09-30 5.03
2018-06-30 4.31
2018-03-31 3.93
2017-12-31 4.13
2017-09-30 4.18
2017-06-30 4.23
2017-03-31 4.25
2016-12-31 4.29
2016-09-30 4.19
2016-06-30 3.76

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Safety Insurance Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Safety Insurance Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Safety Insurance Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SFN Past Performance

  How has Safety Insurance Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Safety Insurance Group's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Safety Insurance Group's year on year earnings growth rate has been positive over the past 5 years.
  • Safety Insurance Group's 1-year earnings growth exceeds its 5-year average (74.9% vs 19.5%)
  • Safety Insurance Group's earnings growth has exceeded the DE Insurance industry average in the past year (74.9% vs 9.4%).
Earnings and Revenue History
Safety Insurance Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Safety Insurance Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SFN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 849.36 103.41
2018-12-31 836.50 82.70
2018-09-30 847.16 75.70
2018-06-30 843.78 64.81
2018-03-31 844.06 59.12
2017-12-31 839.11 62.00
2017-09-30 832.51 62.64 -3.15
2017-06-30 830.06 63.35 -2.03
2017-03-31 824.76 63.58 -0.93
2016-12-31 819.82 64.15
2016-09-30 813.91 62.56 3.15
2016-06-30 805.09 55.99 2.03
2016-03-31 799.74 33.73 0.93
2015-12-31 797.95 -13.85
2015-09-30 795.56 -13.87
2015-06-30 790.41 -10.55
2015-03-31 785.75 11.72
2014-12-31 778.80 58.79
2014-09-30 771.95 60.16
2014-06-30 763.52 62.52
2014-03-31 754.58 59.36
2013-12-31 745.28 60.59
2013-09-30 734.71 59.27
2013-06-30 724.55 55.95
2013-03-31 715.26 54.85
2012-12-31 703.87 58.07
2012-09-30 692.03 53.26
2012-06-30 682.54 47.74

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Safety Insurance Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Safety Insurance Group used its assets more efficiently than the DE Insurance industry average last year based on Return on Assets.
  • Safety Insurance Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Safety Insurance Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Safety Insurance Group has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SFN Health

 How is Safety Insurance Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Safety Insurance Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Safety Insurance Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Safety Insurance Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Safety Insurance Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 10.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Safety Insurance Group Company Filings, last reported 1 month ago.

DB:SFN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 755.06 36.99 22.89
2018-12-31 718.64 0.00 37.58
2018-09-30 711.87 0.00 51.32
2018-06-30 696.47 0.00 18.72
2018-03-31 685.65 0.00 24.83
2017-12-31 701.02 0.00 41.71
2017-09-30 702.84 0.00 31.93
2017-06-30 693.83 0.00 34.30
2017-03-31 677.85 0.00 32.24
2016-12-31 670.73 0.00 20.05
2016-09-30 687.30 0.00 52.28
2016-06-30 680.04 0.00 44.05
2016-03-31 658.33 0.00 35.94
2015-12-31 644.50 0.00 47.49
2015-09-30 644.44 0.00 43.24
2015-06-30 646.34 0.00 21.29
2015-03-31 667.01 0.00 25.27
2014-12-31 708.28 0.00 42.46
2014-09-30 705.77 0.00 28.37
2014-06-30 703.70 0.00 37.74
2014-03-31 706.82 0.00 15.67
2013-12-31 695.19 0.00 55.88
2013-09-30 693.44 0.00 38.31
2013-06-30 684.36 0.00 35.79
2013-03-31 696.48 0.00 39.70
2012-12-31 694.36 0.00 35.38
2012-09-30 696.41 0.00 33.70
2012-06-30 681.34 0.00 87.99
  • Safety Insurance Group's level of debt (4.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 4.9% today).
  • Debt is well covered by operating cash flow (328.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 1436x coverage).
X
Financial health checks
We assess Safety Insurance Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Safety Insurance Group has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SFN Dividends

 What is Safety Insurance Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.42%
Current annual income from Safety Insurance Group dividends.
If you bought €2,000 of Safety Insurance Group shares you are expected to receive €68 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Safety Insurance Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • Safety Insurance Group's dividend is below the markets top 25% of dividend payers in Germany (3.89%).
Upcoming dividend payment

Purchase Safety Insurance Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:SFN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:SFN Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
DB:SFN Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-15 3.200 3.529
2018-11-02 3.200 3.791
2018-10-31 3.200 3.813
2018-08-03 3.200 3.538
2018-08-01 3.200 3.444
2018-02-15 3.200 3.916
2017-11-03 3.200 4.028
2017-11-01 3.200 3.952
2017-08-04 3.200 4.280
2017-08-02 3.200 4.436
2017-05-08 2.800 4.095
2017-02-15 2.800 3.969
2016-11-04 2.800 3.894
2016-11-01 2.800 4.225
2016-08-05 2.800 4.198
2016-08-03 2.800 4.404
2016-02-16 2.800 4.771
2015-11-06 2.800 5.064
2015-11-03 2.800 4.956
2015-08-07 2.800 5.070
2015-08-05 2.800 4.913
2015-02-17 2.800 4.792
2014-08-06 2.800 4.764
2014-05-06 2.400 4.654
2014-02-14 2.400 4.428
2013-11-04 2.400 4.342
2013-08-07 2.400 4.541
2013-05-06 2.400 4.618
2013-02-15 2.400 4.958
2012-11-02 2.400 5.214
2012-08-01 2.400 5.229
2012-05-03 2.000 4.838
2012-02-15 2.000 4.799
2011-11-02 2.000 4.798
2011-08-03 2.000 5.136
2011-05-04 2.000 4.679
2011-02-15 2.000 4.284
2010-11-02 2.000 4.168
2010-08-04 2.000 4.667
2010-05-05 1.600 4.251
2010-02-16 1.600 4.251
2009-11-02 1.600 4.481
2009-08-04 1.600 4.854

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Safety Insurance Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Safety Insurance Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Safety Insurance Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Safety Insurance Group has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SFN Management

 What is the CEO of Safety Insurance Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
George Murphy
COMPENSATION $3,093,689
AGE 51
TENURE AS CEO 3.1 years
CEO Bio

Mr. George Michael Murphy, CPCU, has been Chief Executive Officer and President at Safety Insurance Group, Inc. since April 1, 2016. Mr. Murphy has been employed by Safety Insurance's Insurance Subsidiaries for over 27 years. His leadership roles in Safety Insurance and its insurance subsidiaries included developing strong personal relationships with Safety’s network of independent agents along with his understanding of finance, regulation, corporate governance and other matters. Mr. Murphy served as Vice President of Marketing at Safety Insurance Group, Inc. from October 1, 2005 to April 1, 2016 and served as its Director of Marketing. He has been a Director of Safety Insurance Group, Inc. since 2015.

CEO Compensation
  • George's compensation has been consistent with company performance over the past year, both up more than 20%.
  • George's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Safety Insurance Group management team in years:

3.8
Average Tenure
54.5
Average Age
  • The tenure for the Safety Insurance Group management team is about average.
Management Team

George Murphy

TITLE
President
COMPENSATION
$3M
AGE
51
TENURE
3.1 yrs

William Begley

TITLE
VP, CFO
COMPENSATION
$2M
AGE
63
TENURE
17.2 yrs

James Berry

TITLE
Vice President of Underwriting
COMPENSATION
$1M
AGE
58
TENURE
3.8 yrs

Christopher Whitford

TITLE
Controller
TENURE
4.3 yrs

John Drago

TITLE
Vice President of Marketing
AGE
51
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Safety Insurance Group board of directors in years:

15
Average Tenure
71.5
Average Age
  • The average tenure for the Safety Insurance Group board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

David Brussard

TITLE
Chairman of the Board
COMPENSATION
$210K
AGE
66
TENURE
15.2 yrs

George Murphy

TITLE
President
COMPENSATION
$3M
AGE
51
TENURE
3.3 yrs

David McKown

TITLE
Director
COMPENSATION
$155K
AGE
80
TENURE
16.5 yrs

Peter Manning

TITLE
Director
COMPENSATION
$160K
AGE
79
TENURE
15.7 yrs

Frederic Lindeberg

TITLE
Director
COMPENSATION
$155K
AGE
77
TENURE
14.8 yrs

Thalia Meehan

TITLE
Director
COMPENSATION
$150K
AGE
56
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • Safety Insurance Group insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Mar 19 Sell David Krupa Individual 22. Mar 19 25. Mar 19 -3,588 €77.78 €-275,630
22. Mar 19 Sell Peter Manning Individual 20. Mar 19 20. Mar 19 -1,000 €77.33 €-77,334
28. Sep 18 Sell James Berry Individual 07. Sep 18 07. Sep 18 -5,130 €84.65 €-434,255
13. Sep 18 Sell David McKown Individual 10. Sep 18 10. Sep 18 -1,235 €83.16 €-102,706
11. Sep 18 Sell David McKown Individual 06. Sep 18 06. Sep 18 -3,765 €84.94 €-319,796
07. Aug 18 Sell Frederic Lindeberg Individual 07. Aug 18 07. Aug 18 -1,000 €79.77 €-79,766
07. Jun 18 Sell Frederic Lindeberg Individual 06. Jun 18 06. Jun 18 -2,000 €75.09 €-150,177
X
Management checks
We assess Safety Insurance Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Safety Insurance Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SFN News

Simply Wall St News

SFN Company Info

Description

Safety Insurance Group, Inc. provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, 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. It also provides commercial automobile policies that offer insurance for commercial vehicles used for business purposes, including private passenger-type vehicles, trucks, tractors and trailers, insure individual vehicles, and commercial fleets; and homeowners policies, which provide coverage for homes, condominiums, and apartments for losses to a dwelling and its contents from various perils, and coverage for liability to others arising from ownership or occupancy. In addition, the company offers business owners policies that cover apartments and residential condominiums, restaurants, office condominiums, processing and services businesses, special trade contractors, and wholesalers. Further, it provides personal umbrella policies, which provide personal excess liability coverage over and above the limits of individual automobile, watercraft, and homeowner’s insurance policies; and commercial umbrella policies, as well as underwrites dwelling fire insurance for non-owner occupied residences. Additionally, the company offers inland marine coverage for homeowners and business owner policies; and watercraft coverage for small and medium sized pleasure crafts. It distributes its products through independent agents. The company was formerly known as Safety Holdings Inc and changed its name to Safety Insurance Group, Inc. in April 2002. Safety Insurance Group, Inc. was founded in 1979 and is based in Boston, Massachusetts.

Details
Name: Safety Insurance Group, Inc.
SFN
Exchange: DB
Founded: 1979
$1,283,052,356
15,383,794
Website: http://www.safetyinsurance.com
Address: Safety Insurance Group, Inc.
20 Custom House Street,
Boston,
Massachusetts, 02110,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS SAFT Common Stock Nasdaq Global Select US USD 22. Nov 2002
DB SFN Common Stock Deutsche Boerse AG DE EUR 22. Nov 2002
Number of employees
Current staff
Staff numbers
627
Safety Insurance Group employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 21:31
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2018/02/26
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.