Legal & General Group Plc reduced its holdings in Saratoga Investment Corp. (NYSE:SAR - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,997 shares of the financial services provider's stock after selling 11,227 shares during the period. Legal & General Group Plc owned about 0.63% of Saratoga Investment worth $2,173,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wealthcare Advisory Partners LLC lifted its position in Saratoga Investment by 2.9% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 32,845 shares of the financial services provider's stock worth $786,000 after buying an additional 911 shares in the last quarter. Promus Capital LLC purchased a new position in shares of Saratoga Investment during the 4th quarter worth $30,000. JPMorgan Chase & Co. boosted its position in shares of Saratoga Investment by 35.8% during the 4th quarter. JPMorgan Chase & Co. now owns 6,789 shares of the financial services provider's stock valued at $162,000 after acquiring an additional 1,789 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Saratoga Investment by 10.8% in the fourth quarter. D.A. Davidson & CO. now owns 29,929 shares of the financial services provider's stock valued at $716,000 after purchasing an additional 2,929 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Saratoga Investment by 3.1% in the fourth quarter. Wells Fargo & Company MN now owns 109,784 shares of the financial services provider's stock valued at $2,626,000 after purchasing an additional 3,292 shares during the period. 19.09% of the stock is currently owned by hedge funds and other institutional investors.
Saratoga Investment Trading Down 0.3 %
SAR stock traded down $0.08 during mid-day trading on Wednesday, hitting $24.42. 39,765 shares of the company were exchanged, compared to its average volume of 86,123. Saratoga Investment Corp. has a 12-month low of $21.10 and a 12-month high of $26.49. The firm has a market capitalization of $350.33 million, a P/E ratio of 9.85 and a beta of 0.94. The business has a fifty day simple moving average of $24.11 and a 200-day simple moving average of $24.43. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.14.
Saratoga Investment Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 12.29%. The ex-dividend date is Thursday, June 5th. This is an increase from Saratoga Investment's previous monthly dividend of $0.25. Saratoga Investment's dividend payout ratio (DPR) is 120.97%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on SAR. Compass Point decreased their target price on shares of Saratoga Investment from $26.25 to $25.25 and set a "buy" rating on the stock in a report on Monday, January 13th. StockNews.com cut 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $25.08.
Get Our Latest Stock Analysis on Saratoga Investment
Saratoga Investment Profile
(
Free Report)
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.
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