Russell Investments Group Ltd. increased his position in shares of Regional Management Corp. (NYSE:RM – Get Rating) rose 37.1% in the first quarter, the company said in its latest filing with the SEC. The company owned 20,160 shares of the loan servicer after purchasing an additional 5,454 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.21% of Regional Management valued at $977,000 at the end of the most recent period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management SA expanded its position in regional management by 18.6% in the first quarter. Assenagon Asset Management SA now owns 39,328 shares in the credit servicer, valued at $1,910,000, after purchasing a further 6,174 shares during the period. Khrom Capital Management LLC increased its position in Regional Management shares by 12.2% in the fourth quarter. Khrom Capital Management LLC now owns 174,139 shares of the loan servicer’s stock valued at $10,006,000 after purchasing an additional 19,000 shares during the period. MBM Wealth Consultants LLC increased its position in Regional Management shares by 10.8% in the fourth quarter. MBM Wealth Consultants LLC now owns 6,574 shares of the loan servicer, valued at $378,000, after purchasing an additional 641 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Regional Management shares by 0.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 61,976 shares of the credit servicer, valued at $3,561,000, after purchasing an additional 275 shares during the period. Finally, Lazard Asset Management LLC increased its position in Regional Management shares by 61.3% in the fourth quarter. Lazard Asset Management LLC now owns 953 shares of the loan servicer’s stock valued at $54,000 after purchasing an additional 362 shares during the period. Institutional investors and hedge funds own 89.95% of the company’s shares.
Wall Street analysts forecast growth
Several research companies have recently looked into RM. BMO Capital Markets lowered its price target on Regional Management shares to $52.00 from $58.00 in a research note on Friday, August 5. Keefe, Bruyette & Woods lowered its price target on Regional Management shares from $53.00 to $41.00 in a research note on Monday, July 11.
Insiders place their bets
In other Regional Management news, Director Basswood Capital Management, L. sold 6,000 shares of Regional Management in a transaction Tuesday, August 9th. The shares sold at an average price of $37.91 for a total transaction of $227,460.00. Following the transaction, the Director now directly owns 866,706 shares of the Company, valued at $32,856,824.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. In other Regional Management news, Director Basswood Capital Management, L. sold 6,000 shares of Regional Management in a transaction Tuesday, August 9th. The shares were sold at an average price of $37.91 for a total transaction of $227,460.00. Following the transaction, the Director now directly owns 866,706 shares of the Company, valued at $32,856,824.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. In addition, Director Sandra K. Johnson sold 1,687 shares of Regional Management in a transaction on Monday, May 23. The stock sold at an average price of $44.77 for a total transaction of $75,526.99. Following the transaction, the Director now directly owns 4,997 shares of the Company, valued at $223,715.69. The disclosure for this sale can be found here. Insiders have sold 40,339 shares of the company’s stock valued at $1,564,681 over the past ninety days. Company insiders own 8.90% of the company’s shares.
Performance of regional management stocks
NYSE:RM opened at $38.44 on Friday. The company has a current ratio of 42.38, a quick ratio of 42.38 and a debt to equity ratio of 3.96. The company’s 50-day moving average price is $39.15 and its 200-day moving average price is $44.54. Regional Management Corp. has a 12-month low of $36.50 and a 12-month high of $67.60. The company has a market cap of $371.79 million, a P/E of 4.77 and a beta of 1.38.
Regional management announces dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 24 will receive a dividend of $0.30 per share. That equates to a dividend of $1.20 on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday August 23rd. Regional Management’s payout ratio (DPR) is currently 14.89%.
Regional Management Profile
(get rating)
Regional Management Corp., a diversified consumer finance company, offers a variety of personal loan products primarily to customers with limited access to consumer credit from banks, savings companies, credit card companies and other lenders in the United States. It offers small and large installment loans; and retail loans to finance purchases of furniture, appliances and other retail products.
Further reading
Want to see what other hedge funds are holding RM? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Regional Management Corp. (NYSE:RM – Get Rating).
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