Saga PLC (ISIN GB00BLT1Y088) – High Quality Travel / Insurance Hybrid ?
Saga Plc is a UK company that combines two business that I have looked at quite often: Insurance and Travel.
Saga has its origin as a Seaside Hotel in England and then became a travel company before then moving into insurance in the 1980s. Saga caters specifically for the “over 50” market and claims to be the “leading provider” to people over 50 in the uK.
After a PE financed management buyout in 2007, he company was IPOed in May 2014 at a price of 185 pence / share.
Looking at the stock chart, IPO investors at first saw a decent outperformance before things went south this year: