Lazard Asset Management LLC bought a new stake in Regional Management Corp. (NYSE:RM – Free Report) in the 1st quarter, HoldingsChannel reports. The fund bought 31,138 shares of the credit services provider’s stock, valued at approximately $1,004,000.
Several other institutional investors and hedge funds have also bought and sold shares of RM. Royal Bank of Canada increased its position in shares of Regional Management by 2.4% during the first quarter. Royal Bank of Canada now owns 16,200 shares of the credit services provider’s stock worth $487,000 after purchasing an additional 375 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Regional Management during the 1st quarter valued at $201,000. Goldman Sachs Group Inc. boosted its position in shares of Regional Management by 45.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 194,374 shares of the credit services provider’s stock worth $5,853,000 after purchasing an additional 60,744 shares in the last quarter. Empowered Funds LLC grew its stake in Regional Management by 7.2% during the 1st quarter. Empowered Funds LLC now owns 46,851 shares of the credit services provider’s stock worth $1,411,000 after buying an additional 3,160 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Regional Management during the 1st quarter valued at about $282,000. 98.89% of the stock is owned by hedge funds and other institutional investors.
Regional Management Stock Performance
RM opened at $32.51 on Thursday. The company has a current ratio of 64.04, a quick ratio of 59.88 and a debt-to-equity ratio of 4.41. Regional Management Corp. has a 12-month low of $30.46 and a 12-month high of $46.00. The firm has a 50 day moving average of $38.99 and a two-hundred day moving average of $36.40. The firm has a market capitalization of $300.03 million, a PE ratio of 6.84 and a beta of 1.02.
Regional Management Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. Regional Management’s dividend payout ratio is presently 25.26%.
Insider Transactions at Regional Management
In other Regional Management news, Director Sandra K. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $36.00, for a total value of $36,000.00. Following the completion of the transaction, the director directly owned 21,933 shares of the company’s stock, valued at approximately $789,588. The trade was a 4.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Steven B. Barnette sold 3,274 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $43.30, for a total value of $141,764.20. Following the completion of the sale, the chief accounting officer owned 13,472 shares in the company, valued at approximately $583,337.60. This represents a 19.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,874 shares of company stock worth $350,208 over the last quarter. 10.90% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Weiss Ratings raised Regional Management from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Citizens Jmp dropped their target price on shares of Regional Management from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 30th. Citigroup reaffirmed a “market outperform” rating on shares of Regional Management in a report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Regional Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.
Check Out Our Latest Stock Report on Regional Management
Regional Management Profile
Regional Management Corp., headquartered in Wilmington, North Carolina, is a consumer finance company specializing in installment loan products for underbanked individuals. Since its founding in 1977, the company has developed a network of field-based branches alongside a digital platform to offer credit solutions in rural and small-town markets across the United States.
The company’s core offerings include consumer installment loans for everyday purchases, auto refinancing and lease buyouts, as well as ancillary services such as insurance referrals.
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