SAFT Safety Insurance Group, Inc. featured news, full reports, and detailed charts
Safety Insurance Group, Inc. (SAFT) Wrap Up:
We are a leading provider of private passenger automobile insurance in Massachusetts. In addition to private passenger automobile insurance (which represented 74.6% of our direct written premiums in 2007), we offer a portfolio of property and casualty insurance products, including commercial automobile, homeowners, dwelling fire, umbrella and business owner policies. Operating exclusively in Massachusetts through our insurance subsidiaries, Safety Insurance Company ("Safety Insurance"), Safety Indemnity Insurance Company ("Safety Indemnity") and Safety Property and Casualty Insurance Company ("Safety P&C") which was organized in December 2006 (together referred to as the "Insurance Subsidiaries"), we have established strong relationships with 814 independent insurance agents in 916 locations throughout Massachusetts. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f14%2f0001047469-08-002808.html#FIS_BUSINESS"Safety Insurance Group Inc. (SAFT:NASDAQ)
Snapshot of Safety Insurance Group Inc. (SAFT)
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OPEN
$35.44
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PREVIOUS CLOSE
$35.61
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DAY HIGH
$36.34
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DAY LOW
$35.44
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52 WEEK HIGH
01/9/09 - $41.45
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52 WEEK LOW
03/11/09 - $28.16
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MARKET CAP
544.1M
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AVERAGE VOLUME 3 mo
39.9K
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DILUTED EPS TTM
$3.54
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SHARES OUTSTANDING
15.1M
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EX-DATE
11/27/09
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P/E TTM
10.2x
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DIVIDEND
$1.60
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DIVIDEND YIELD
4.43%
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| K = Thousands M = Millions B = Billions | ||
SAFT Top Compensated Officers
Executives, Board Directors
Key developments for Safety Insurance Group Inc. (SAFT)
Safety Insurance Group Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's net income was $17.0 million, or $1.11 per basic and diluted share, compared to $18.4 million, or $1.12 per diluted share, for the comparable 2008 period. Total revenues were $148.3 million against $156.5 million a year ago. Income before income taxes was $23.9 million against $25.6 million a year ago. For the nine months, the company's net income was $43.9 million, or $2.79 per diluted share, compared to $58.3 million, or $3.58 per diluted share, for the comparable 2008 period. Book value per share increased to $41.21 at September 30, 2009 compared to $37.17 at December 31, 2008. Total revenues were $444.2 million against $488.1 million a year ago. Income before income taxes was $59.9 million against $81.3 million a year ago. On November 2, 2009, the Board of Directors approved and declared a quarterly cash dividend of $0.40 per share on the issued and outstanding common stock, payable on December 15, 2009 to shareholders of record at the close of business on December 1, 2009.
Safety Insurance Group Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on November 2, 2009).
Safety Insurance Group Inc. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2009. Net income for the quarter ended June 30, 2009 was $15.0 million, or $0.96 per diluted share, compared to $20.9 million, or $1.28 per diluted share, for the comparable 2008 period. Net written premiums for the quarter ended June 30, 2009 decreased by $7.3 million, or 4.9%, to $141.0 million from $148.3 million for the comparable 2008 period. Net earned premiums for the quarter ended June 30, 2009 decreased by $15.7 million, or 10.7%, to $131.3 million from $147.0 million for the comparable 2008 period. Net investment income for the quarter ended June 30, 2009 was $10.7 million compared to $11.2 million for the comparable 2008 period. Total revenue for the quarter was $146.306 million compared to $164.796 million for the same period a year ago. Income before income taxes was $20.344 against $29.226 million of prior year period. The decrease net written premiums were due to the factors that decreased direct written premiums combined with decreases in premiums assumed from Commonwealth Automobile Reinsurers, and partially offset by decreases in premiums ceded to CAR. Net income for the six months ended June 30, 2009 was $26.9 million, or $1.69 per diluted share, compared to $40.0 million, or $2.45 per diluted share, for the comparable 2008 period. The company's book value per share increased to $39.20 at June 30, 2009 compared to $37.17 at December 31, 2008. Net written premiums for the six months ended June 30, 2009 decreased by $30.6 million, or 9.8%, to $281.9 million from $312.5 million for the comparable 2008 period. These decreases were due to the factors that decreased direct written premiums combined with decreases in premiums assumed from Commonwealth Automobile Reinsurers, and partially offset by decreases in premiums ceded to CAR. Net earned premiums for the six months ended June 30, 2009 decreased by $31.0 million, or 10.4%, to $266.7 million from $297.7 million for the comparable 2008 period. These decreases were due to the factors that decreased direct and net written premiums. Net investment income for the six months ended June 30, 2009 was $21.1 million compared to $22.7 million for the comparable 2008 period. Total revenue for the period was $295.848 million against $331.601 million of previous year period. Income before income taxes was $35.910 million compared to $55.677 million for the comparable period of last year. On August 4, 2009, the Board of Directors approved and declared third quarter cash dividend of $0.40 per share on the issued and outstanding common stock, payable on September 15, 2009 to shareholders of record at the close of business on September 1, 2009.
SAFT Competitors
| Company | Last | Change |
| CNA Surety Corp | $13.46 USD | +0.11 |
| Employers Holdings Inc | $15.18 USD | +0.01 |
| Meadowbrook Insurance Group Inc | $6.83 USD | -0.34 |
| United Fire & Casualty Co | $17.21 USD | +0.21 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | SAFT | Industry Range |
| Price/Earnings | 10.1x |
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| Price/Sales | 0.9x |
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| Price/Book | 0.9x |
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| Price/Cash Flow | 9.7x |
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| TEV/Sales | 0.8x |
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SAFT transactions
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| No transactions in the last 6 months. | ||
More Recent News About Safety Insurance Group, Inc.
More news for SAFT
Johnson Controls-Saft: A new Management Team to Reinforce Market Leadership
MILWAUKEE, Wisconsin, October 1 /PRNewswire-FirstCall/ -- Alex Molinaroli, president Johnson Controls Power Solutions and John Searle, president and CEO of Saft, announce leadership changes within their companies' joint venture Johnson Controls-Saft Advanced Power Solutions, reflecting the increased investment and commitment they are making to build and maintain its leadership role within the hybrid and electric vehicle battery industry. The following changes are effective immediately. MaryAnn Wright has been appointed to a new position as vice president and managing director for Johnson Controls-Saft as the leader of its Business Accelerator program reporting directly to the board. MaryAnn has been serving as the CEO for Johnson Controls-Saft. She has played a key role in establishing Johnson Controls-Saft as a leading independent global provider of hybrid battery systems for key customers such as Daimler, BMW, Ford and Azure Dynamics. Her team was also responsible for securing the single largest U.S. Department of Energy grant of $299 million to support development of a U.S. domestic advanced battery industry. In this new role, MaryAnn will lead the initiative that will oversee this significant program implementation to ensure its objectives are successfully achieved.Ray Shemanski will replace MaryAnn as the CEO for Johnson Controls-Saft. A key focus will include leveraging Johnson Controls worldwide commercial OE organization to increase Johnson Controls-Saft's business development capabilities. Since joining Johnson Controls in the Automotive Experience business in 1988, Ray held several positions of increasing responsibility spanning plant management, program management, sales management, and ultimately general management of the company's global customer business unit for Ford. In January 2009 he joined Power Solutions as vice president and...Click here to read the whole Article (external link)
Saft Develops Super-Phosphate(TM) Technology for Rigorous Defense Applications
COCKEYSVILLE, Maryland, November 2 /PRNewswire-FirstCall/ -- - Super-Phosphate(TM) Technology Takes Lithium Iron Phosphate Technology to New Levels.Saft, the world specialist in the design and manufacture of high-tech batteries for industry, has expanded its range of lithium technologies with the VL 10V Fe Super-Phosphate(TM), the highest power lithium iron phosphate cell on the market. These large cells are designed for defense applications, such as U.S. Navy undersea operations, requiring very high power and safe operation."Saft's advanced lithium iron phosphate technology fills a void in the market for high power lithium batteries for use in applications with low abuse tolerance," said Thomas Alcide, Saft Specialty Battery Group general manager. "Saft's cells have superior power (W/kg) and a better trade-off between power and energy than standard lithium iron phosphate technology."Saft designed and developed the VL 10V Fe Super-Phosphate(TM) cell capable of producing continuous power of 7 kW/kg, making it the world's highest power lithium iron phosphate cell.Compared with standard lithium iron phosphate cells, Saft's Super-Phosphate(TM) cell, in addition to its ability to accept very high regenerative charge rates, features proven safety, longer cycle life, better calendar life and a wide operating temperature range, including superior lower temperature performance.Saft uses a licensed form of iron phosphate developed by scientists at the University of Texas and the cells are being manufactured in the United States.Saft's diverse lithium portfolio also includes high power, medium power and high energy solutions. Each of these product lines is designed specifically for applications requiring either power, energy or a combination of both. Saft offers different products for its defense and civilian markets with...Click here to read the whole Article (external link)
Saft Groupe SA Reports Quarterly Financial Information for the Third Quarter of 2009
PARIS, November 2 /PRNewswire-FirstCall/ -- Saft, leader in the design, development and manufacture of advanced batteries for industry and defence, announces its sales for the third quarter of 2009. Main highlights - Q3 2009 sales were EUR123.2m, an 11.9% reduction YoY as reported, and a 13.2% reduction at constant exchange rates. - Sales reduction in Q3 was stable compared with Q2. - YTD end September sales were EUR410.6m, down by 8.0% YoY at current exchange rates and down 10.9% YoY at constant exchange rates. - The company believes the negative effect of customer destocking has started to decline. - FY 2009 sales guidance of (7) to (10)% at constant exchange rates is maintained. Year end sales are likely to be towards the bottom of this guidance. - EBITDA guidance maintained at a minimum of 18% of sales, excluding costs related to the Jacksonville investment project, estimated at $1.5m in Q4 2009. John Searle, Chairman of the Management Board, said:"Challenging market conditions seen in H1 continued into Q3. However, while Saft has not seen a recovery in overall demand during the quarter, I do believe that we have reached, or are close to, the lowest point in the demand cycle. Activities the most impacted during H1 have performed slightly better during the last quarter and I believe that aggressive customer destocking is past its worst.Anticipating an improving Q4 performance, I can confirm that our sales guidance for the full year remains unchanged, although sales are likely to be towards the bottom of the revised range advised in July. In addition, I can confirm that we expect year-end profitability to be in line with previous guidance.More strategically, Saft remains very focussed on its exciting medium term growth prospects, with high perfo...Click here to read the whole Article (external link)
Safety Announces Third Quarter 2009 Results and Declares Fourth Quarter 2009 Dividend
Safety Insurance Group, Inc. and Subsidiaries Consolidated Statements of Operations (Unaudited) (Dollars in thousands, except share and per share data) Â Â Â Â Â Â Â Â Three Months Ended Nine Months Ended September 30, September 30, 2009 2008 2009 2008 Â Net earned premiums ...Click here to read the whole Article (external link)
SAFETY INSURANCE GROUP INC Files SEC form 10-Q, Quarterly Report
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion should be read in conjunction with our accompanying consolidated financial statements and notes thereto, which appear elsewhere in this document. In this discussion, all dollar amounts are presented in thousands, except share and per share data. The following discussion contains forward-looking statements. We intend statements which are not historical in nature to be, and are hereby identified as "forward-looking statements" to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition, the Company's senior management may make forward-looking statements orally to analysts, investors, the media and others. This safe harbor requires that we specify important factors that could cause actual results to differ materially from those contained in forward-looking statements made by or on behalf of us. We cannot promise that our expectations in such forward-looking statements will turn out to be correct. Our actual results could be materially different from and worse than our expectations. See "Forward-Looking Statements" below for specific important factors that could cause actual results to differ materially from those contained in forward-looking statements Executive Summary and Overview In this discussion, "Safety" refers to Safety Insurance Group, Inc. and "our Company," "we," "us" and "our" refer to Safety Insurance Group, Inc. and its consolidated subsidiaries. Our subsidiaries consist of Safety Insurance Company ("Safety Insurance"), Safety Indemnity Insurance Company ("Safety Indemnity"), Safety Property and Casualty Insurance Company ("Safety P&C"), Whiteshirts Asset Management Corporation ("WAMC"), and Whiteshirts Management Corporation, which is WAMC's holding ...Click here to read the whole Article (external link)
SAFETY INSURANCE GROUP INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements an
Show all filings for SAFETY INSURANCE GROUP INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for SAFETY INSURANCE GROUP INC 2-Nov-2009Results of Operations and Financial Condition, Financial Statements an Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information...Click here to read the whole Article (external link)
Saft Confirms Location for Lithium-ion Battery Factory in Jacksonville, Florida
JACKSONVILLE, Florida, November 13 /PRNewswire-FirstCall/ -- Following receipt of a $95 million grant from the U.S. Department of Energy under the American Recovery and Reinvestment Act and successful negotiations between Saft, the state of Florida, and the city of Jacksonville, construction will soon begin in Jacksonville for the lithium-ion (Li-ion) factory of the future. The total estimated cost of the project is around $200 million, and it will bring roughly 279 jobs to the area during the next six years."Florida is stepping onto the world stage as a major marketplace for advanced energy technologies," said Governor Charlie Crist. "We are excited about Saft establishing their lithium-ion factory in Florida, and we look forward to their being a part of Florida's renewable energy future."To be located at Cecil Commerce Center, Saft's new facility will be a high-volume manufacturing plant building advanced Li-ion cells and batteries for military hybrid vehicles, aviation, smart grid support, broadband backup power and energy storage for renewable energy."The City of Jacksonville looks forward to having Saft America, Inc. as a strong community partner at Cecil and is eager to see their development of lithium-ion cells and batteries that will help address the nation's energy needs," said Jacksonville Mayor John Peyton. "This truly was a collaborative effort with local, state and federal officials working together to attract this international company to Jacksonville and I greatly appreciate all of the hard work to strengthen Jacksonville's position as the ideal location for their battery plant."Construction is scheduled to commence within the next few months and be completed before the end of 2010. The presence of this state-of-the-art manufacturing facility ensures that competitive battery solutions will be imminently availa...Click here to read the whole Article (external link)
SAFETY INSURANCE GROUP INC Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue148,329 146,306 149,542 152,901 Cost of Revenue - - - - Gross Profit - 146,306 149,542 152,901 Operating ExpensesResearch Development - - - - Selling General and Administrative124,341 125,941 133,954 136,091 Non Recurring - - - - Others - - - - Total Operating Expenses - - - - Operating Income or Loss23,922 20,365 15,588 16,810 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes23,988 20,365 15,588 16,810 Interest Expense23 21 22 22 Income Before Tax23,965 20,344 15,566 16,788 Income Tax Expense6,941 5,329 3,722 4,864 Minority Interest - - - - Net Income From Continuing Ops17,024 15,015 11,844 11,924 Non-recurring EventsDiscontinued Operations - - - - ...Click here to read the whole Article (external link)