Old Mutual Global Investors UK Ltd. trimmed its holdings in Realogy Holdings Corp (NYSE:RLGY) by 11.2% in the first quarter, HoldingsChannel.com reports. The fund owned 2,142,930 shares of the financial services provider’s stock after selling 269,939 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Realogy were worth $58,459,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Realogy by 4.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,684,284 shares of the financial services provider’s stock worth $44,711,000 after buying an additional 74,604 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Realogy during the fourth quarter worth about $209,000. SG Americas Securities LLC boosted its position in shares of Realogy by 18.0% during the fourth quarter. SG Americas Securities LLC now owns 23,987 shares of the financial services provider’s stock worth $636,000 after buying an additional 3,654 shares during the period. Boston Partners boosted its position in shares of Realogy by 12.1% during the fourth quarter. Boston Partners now owns 257,506 shares of the financial services provider’s stock worth $6,824,000 after buying an additional 27,798 shares during the period. Finally, Blue Sky Asset Management LLC acquired a new position in shares of Realogy during the fourth quarter worth about $890,000.
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Several research firms have recently weighed in on RLGY. Zacks Investment Research cut Realogy from a “buy” rating to a “hold” rating in a research report on Saturday, May 5th. Stephens reaffirmed a “buy” rating and set a $33.00 price objective on shares of Realogy in a research report on Friday, February 23rd. ValuEngine cut Realogy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Barclays reduced their price objective on Realogy from $24.00 to $21.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Finally, Deutsche Bank set a $35.00 price objective on Realogy and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.33.
RLGY opened at $23.89 on Wednesday. Realogy Holdings Corp has a 52-week low of $23.13 and a 52-week high of $35.18. The stock has a market cap of $3.00 billion, a P/E ratio of 15.22, a P/E/G ratio of 0.64 and a beta of 1.15. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.67.
Realogy (NYSE:RLGY) last released its earnings results on Thursday, May 3rd. The financial services provider reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.04). Realogy had a return on equity of 7.65% and a net margin of 6.38%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted ($0.17) EPS. The business’s revenue was up 2.2% on a year-over-year basis. equities research analysts predict that Realogy Holdings Corp will post 1.84 EPS for the current year.
Realogy announced that its board has initiated a stock repurchase program on Tuesday, February 27th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 30th. Investors of record on Wednesday, May 16th were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, May 15th. This represents a $0.36 annualized dividend and a yield of 1.51%. Realogy’s payout ratio is presently 22.93%.
About Realogy
Realogy Holdings Corp. is an integrated provider of residential real estate services in the United States. The Company is the franchisor of residential real estate brokerages with some of the recognized brands in the real estate industry, the owner of United States residential real estate brokerage offices, the global provider of outsourced employee relocation services and a provider of title and settlement services.
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