Is Safety Insurance Group, Inc. (SAFT) a Buy? The Stock Formed Bullish Double Top Pattern

December 7, 2017 - By Marguerite Chambers

Investors sentiment decreased to 1.33 in Q2 2017. Its down 0.20, from 1.53 in 2017Q1. It turned negative, as 13 investors sold Safety Insurance Group, Inc. shares while 39 reduced holdings. 15 funds opened positions while 54 raised stakes. 11.88 million shares or 0.54% less from 11.95 million shares in 2017Q1 were reported.
Stifel Financial Corporation holds 0% in Safety Insurance Group, Inc. (NASDAQ:SAFT) or 14,994 shares. Thrivent Fincl For Lutherans reported 23,794 shares. Bank & Trust Of America Corporation De owns 26,353 shares or 0% of their US portfolio. Aperio Group Ltd Liability owns 8,315 shares. Vanguard Gp Inc stated it has 0% in Safety Insurance Group, Inc. (NASDAQ:SAFT). New York State Common Retirement Fund owns 16,000 shares. Massachusetts Financial Ma holds 149,732 shares or 0% of its portfolio. Fifth Third Commercial Bank owns 0% invested in Safety Insurance Group, Inc. (NASDAQ:SAFT) for 108 shares. Rhumbline Advisers has 0% invested in Safety Insurance Group, Inc. (NASDAQ:SAFT). Pinebridge Invs L P stated it has 0.04% in Safety Insurance Group, Inc. (NASDAQ:SAFT). Boston Prtnrs holds 0.01% of its portfolio in Safety Insurance Group, Inc. (NASDAQ:SAFT) for 139,116 shares. State Street Corporation invested 0% of its portfolio in Safety Insurance Group, Inc. (NASDAQ:SAFT). 14,977 are held by Comerica Bank. 12,500 are owned by Strs Ohio. State Of Alaska Department Of Revenue holds 0.02% or 3,979 shares.

The chart of Safety Insurance Group, Inc. (SAFT) shows a double top with $84.89 target or 5.00 % above today’s $80.85 share price. The 5 months chart pattern indicates low risk for the $1.23 billion company. It was reported on Dec, 7 by Finviz.com. If the $84.89 price target is reached, the company will be worth $61.55 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.56% or $0.45 during the last trading session, reaching $80.85. About 38,391 shares traded. Safety Insurance Group, Inc. (NASDAQ:SAFT) has risen 13.34% since December 7, 2016 and is uptrending. It has underperformed by 3.36% the S&P500.

More important recent Safety Insurance Group, Inc. (NASDAQ:SAFT) news were published by: Fool.com which released: “Safety Insurance Group Drives Safely Through the 4th Quarter” on February 23, 2017, also Nasdaq.com published article titled: “Ex-Dividend Reminder: Cathay General Bancorp, First Financial Bancorp and …”, Nasdaq.com published: “Safety Insurance Group, Inc. (SAFT) Ex-Dividend Date Scheduled for November 30 …” on November 29, 2017. More interesting news about Safety Insurance Group, Inc. (NASDAQ:SAFT) was released by: Nasdaq.com and their article: “Safety Insurance Group, Inc. (SAFT) Ex-Dividend Date Scheduled for August 30, 2017” with publication date: August 29, 2017.

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