Northern Trust Corp Buys New Holdings in Saratoga Investment Corp. (NYSE:SAR)

Northern Trust Corp purchased a new position in Saratoga Investment Corp. (NYSE:SAR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,315 shares of the financial services provider's stock, valued at approximately $271,000. Northern Trust Corp owned approximately 0.08% of Saratoga Investment as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in shares of Saratoga Investment by 3.1% during the fourth quarter. Wells Fargo & Company MN now owns 109,784 shares of the financial services provider's stock worth $2,626,000 after buying an additional 3,292 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of Saratoga Investment by 133.0% during the fourth quarter. Trexquant Investment LP now owns 64,017 shares of the financial services provider's stock worth $1,531,000 after buying an additional 36,544 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Saratoga Investment by 4.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 59,059 shares of the financial services provider's stock worth $1,413,000 after buying an additional 2,694 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Saratoga Investment during the fourth quarter worth $860,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Saratoga Investment during the fourth quarter worth $814,000. Hedge funds and other institutional investors own 19.09% of the company's stock.

Wall Street Analyst Weigh In

SAR has been the subject of a number of research reports. B. Riley initiated coverage on shares of Saratoga Investment in a report on Tuesday, May 13th. They set a "neutral" rating and a $23.50 target price for the company. Wall Street Zen lowered shares of Saratoga Investment from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $24.58.

Saratoga Investment Trading Down 1.3%

SAR stock traded down $0.33 during mid-day trading on Thursday, hitting $24.31. 124,631 shares of the company were exchanged, compared to its average volume of 90,389. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $373.45 million, a P/E ratio of 9.80 and a beta of 0.65. The business has a fifty day simple moving average of $23.97 and a 200-day simple moving average of $24.48. Saratoga Investment Corp. has a 12-month low of $21.10 and a 12-month high of $26.49.

Saratoga Investment (NYSE:SAR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.21). The company had revenue of $31.30 million for the quarter, compared to analysts' expectations of $32.86 million. Saratoga Investment had a return on equity of 15.53% and a net margin of 22.01%. On average, equities research analysts predict that Saratoga Investment Corp. will post 3.93 earnings per share for the current fiscal year.

Saratoga Investment Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were paid a dividend of $0.25 per share. This represents a yield of 12.31%. The ex-dividend date of this dividend was Tuesday, May 6th. Saratoga Investment's dividend payout ratio (DPR) is presently 147.06%.

About Saratoga Investment

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.