Corebridge Financial Inc. Has $13.80 Million Stock Holdings in Saia, Inc. (NASDAQ:SAIA)

Corebridge Financial Inc. lowered its stake in Saia, Inc. (NASDAQ:SAIA - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,270 shares of the transportation company's stock after selling 1,354 shares during the period. Corebridge Financial Inc. owned 0.11% of Saia worth $13,795,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SAIA. Artemis Investment Management LLP increased its stake in shares of Saia by 72.9% in the 4th quarter. Artemis Investment Management LLP now owns 249,782 shares of the transportation company's stock valued at $113,833,000 after buying an additional 105,356 shares during the period. Raymond James Financial Inc. bought a new position in Saia in the fourth quarter valued at about $46,514,000. Stephens Investment Management Group LLC acquired a new stake in Saia in the fourth quarter worth about $45,767,000. Wasatch Advisors LP raised its holdings in Saia by 10.2% during the 3rd quarter. Wasatch Advisors LP now owns 692,405 shares of the transportation company's stock worth $302,761,000 after purchasing an additional 64,351 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Saia during the 3rd quarter valued at about $22,979,000.

Insider Activity

In other Saia news, CFO Matthew J. Batteh sold 700 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.09, for a total value of $350,063.00. Following the completion of the sale, the chief financial officer now owns 3,326 shares in the company, valued at $1,663,299.34. This trade represents a 17.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Kelly W. Benton sold 460 shares of Saia stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.00, for a total transaction of $230,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,287 shares of the company's stock, valued at approximately $2,143,500. This trade represents a 9.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,493 shares of company stock worth $4,646,181 in the last quarter. Corporate insiders own 0.30% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Saia in a research report on Friday, March 7th. They set a "buy" rating and a $570.00 price target for the company. Cowen reiterated a "hold" rating on shares of Saia in a research report on Tuesday, February 4th. Jefferies Financial Group increased their price target on Saia from $525.00 to $560.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Citigroup decreased their price objective on Saia from $544.00 to $498.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Finally, Bank of America cut their target price on Saia from $565.00 to $484.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Saia has an average rating of "Moderate Buy" and an average price target of $520.28.

Saia Stock Down 4.5 %

NASDAQ:SAIA traded down $17.00 during trading hours on Friday, reaching $359.00. 453,432 shares of the stock were exchanged, compared to its average volume of 427,228. The stock has a market cap of $9.56 billion, a PE ratio of 26.57, a PEG ratio of 2.24 and a beta of 1.89. Saia, Inc. has a twelve month low of $342.68 and a twelve month high of $624.55. The firm has a 50 day moving average of $431.71 and a 200 day moving average of $465.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.57 and a quick ratio of 1.26.

Saia (NASDAQ:SAIA - Get Free Report) last announced its earnings results on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.03). Saia had a return on equity of 16.63% and a net margin of 11.28%. The business had revenue of $789.00 million for the quarter, compared to analyst estimates of $794.69 million. During the same quarter in the previous year, the company posted $3.33 EPS. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Saia, Inc. will post 15.46 earnings per share for the current year.

About Saia

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.