Prudential Financial Inc. grew its stake in shares of Saga Communications, Inc. (NYSEMKT:SGA) by 3.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,934 shares of the company’s stock after acquiring an additional 310 shares during the period. Prudential Financial Inc. owned about 0.15% of Saga Communications worth $409,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in SGA. Teachers Advisors LLC lifted its position in shares of Saga Communications by 9.3% during the 4th quarter. Teachers Advisors LLC now owns 6,035 shares of the company’s stock valued at $304,000 after acquiring an additional 511 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Saga Communications by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 38,501 shares of the company’s stock valued at $1,966,000 after acquiring an additional 1,860 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Saga Communications during the 1st quarter valued at $139,000. American International Group Inc. lifted its position in shares of Saga Communications by 7.0% during the 1st quarter. American International Group Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after acquiring an additional 147 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Saga Communications by 5.0% during the 1st quarter. FMR LLC now owns 462,115 shares of the company’s stock valued at $23,591,000 after acquiring an additional 22,079 shares during the last quarter.
SGA has been the subject of a number of research analyst reports. ValuEngine lowered Saga Communications from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub lowered Saga Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th.
Shares of Saga Communications, Inc. (SGA) opened at 46.05 on Thursday. The stock has a market cap of $272.02 million, a price-to-earnings ratio of 16.14 and a beta of 1.55. Saga Communications, Inc. has a 12-month low of $37.75 and a 12-month high of $52.05. The stock has a 50 day moving average price of $43.39 and a 200-day moving average price of $46.07.
Saga Communications (NYSEMKT:SGA) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter. Saga Communications had a net margin of 11.15% and a return on equity of 9.60%. The company had revenue of $30.26 million during the quarter. Equities analysts anticipate that Saga Communications, Inc. will post $2.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, September 25th will be given a $0.30 dividend. The ex-dividend date is Friday, September 22nd. This represents a $1.20 annualized dividend and a yield of 2.61%. Saga Communications’s dividend payout ratio is currently 40.00%.
Saga Communications Company Profile
Saga Communications, Inc is a broadcast company engaged in acquiring, developing and operating broadcast properties. The Company’s segments are Radio, Television, and Corporate and Other. As of February 28, 2017, it owned and/or operated four television stations and five low-power television (LPTV) stations serving two markets, and 68 frequency modulation (FM) and 32 amplitude modulation (AM) radio stations serving 24 markets, including Bellingham, Washington; Columbus, Ohio; Norfolk, Virginia; Milwaukee, Wisconsin; Manchester, New Hampshire; Des Moines, Iowa, and Joplin, Missouri.
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