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

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

Other large investors have also added to or reduced their stakes in the company. Promus Capital LLC purchased a new position in shares of Saratoga Investment during the fourth quarter valued at approximately $30,000. JPMorgan Chase & Co. purchased a new position in Saratoga Investment during the 3rd quarter valued at $116,000. Janney Montgomery Scott LLC bought a new position in Saratoga Investment in the 4th quarter worth $212,000. HighTower Advisors LLC purchased a new position in shares of Saratoga Investment during the fourth quarter valued at about $266,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Saratoga Investment in the fourth quarter worth about $285,000. Institutional investors own 19.09% of the company's stock.

Saratoga Investment Stock Up 0.5%

Shares of Saratoga Investment stock traded up $0.14 during midday trading on Tuesday, hitting $24.70. The company had a trading volume of 116,369 shares, compared to its average volume of 89,927. The company has a 50 day moving average of $24.01 and a 200 day moving average of $24.48. The stock has a market capitalization of $379.44 million, a P/E ratio of 9.96 and a beta of 0.65. Saratoga Investment Corp. has a 52-week low of $21.10 and a 52-week high of $26.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.33 and a current ratio of 0.33.

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

Saratoga Investment Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th were issued a dividend of $0.25 per share. This represents a dividend yield of 12.31%. The ex-dividend date was Tuesday, May 6th. Saratoga Investment's payout ratio is 147.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SAR shares. B. Riley began coverage on Saratoga Investment in a report on Tuesday, May 13th. They set a "neutral" rating and a $23.50 target price on the stock. Wall Street Zen cut Saratoga Investment from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $24.58.

Saratoga Investment Profile

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.