Directors dealings: Saga boss shows conviction, picks up large batch of shares

28th Apr 2016 16:42

(ShareCast News) - A family investment company linked to Saga boss Andrew Goodsell bought a large batch of shares on Tuesday, the company said in a statement.The investment company purchased 2,564,103 shares at 195.0p apiece on 26 April, for a grand total of £5m.On 19 April, the company announced alongside its preliminary full-year figures an increase in its full-year dividend to 7.2p a share, versus the 6.5p which the analyst consensus had pencilled in.Saga also increased its own target for its payout range going forward from 40%-60% to 50%-70%. "We continue to see Saga as good value, trading in-line with esure and DLG on calendar 2017E EPS, but at a material discount to Admiral. Raised dividends should help close the yield 'gap' with the UK personal lines insurers, with Saga a better diversified and capital light(ish) business for the longer term," Canaccord Genuity analyst Ben Cohen said in a research report sent to clients.In the same report, Cohen stuck by his 240p target price for the price of the stock and his 'buy' recommendation.Shares in Saga closed 0.29% higher on Thursday at 210.60p, not far off from a 52-week high of 221.5p, giving the company a market capitalisation of £2,354.52m. Top Director BuysSaga (SAGA)Director name: Goodsell,Andrew Amount purchased: 2,564,103 @ 195.00pValue: £5,000,000.97Home Retail Group (HOME)Director name: Coombe,JohnAmount purchased: 7,996 @ 171.10pValue: £13,681.16Sirius Minerals (SXX)Director name: Harwerth,Elizabeth NoelAmount purchased: 49,608 @ 18.12pValue: £8,988.97Home Retail Group (HOME)Director name: Keers,CathAmount purchased: 4,355 @ 171.10pValue: £7,451.40Home Retail Group (HOME)Director name: de Rojas ,JacquelineAmount purchased: 4,160 @ 171.10pValue: £7,117.76Home Retail Group (HOME)Director name: Darcey ,Mike Amount purchased: 4,160 @ 171.10pValue: £7,117.76Home Retail Group (HOME)Director name: Durant,IanAmount purchased: 4,160 @ 171.10pValue: £7,117.76Intu Properties (INTU)Director name: Roberts,MatthewAmount purchased: 575 @ 313.00pValue: £1,799.75Intu Properties (INTU)Director name: Fischel,DavidAmount purchased: 575 @ 313.00pValue: £1,799.75Ashley House (ASH)Director name: Walters,Antony Amount purchased: 5,001 @ 9.00pValue: £450.09Ashley House (ASH)Director name: Holmes,JonathanAmount purchased: 5,001 @ 9.00pValue: £450.09Top Director SellsJardine Matheson Holdings Ltd (singapore Reg) (JAR)Director name: Weatherall,E P KAmount purchased: 65,000 @ $56.43Value: $3,668,268.39