Wellington Management Group LLP Trims Holdings in Regional Management Corp. (NYSE:RM)

Wellington Management Group LLP lowered its position in shares of Regional Management Corp. (NYSE:RM) by 17.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 333,915 shares of the credit services provider’s stock after selling 71,214 shares during the quarter. Wellington Management Group LLP’s holdings in Regional Management were worth $10,922,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Regional Management during the 3rd quarter valued at $105,000. Allspring Global Investments Holdings LLC raised its holdings in Regional Management by 81,883.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,919 shares of the credit services provider’s stock valued at $141,000 after acquiring an additional 4,913 shares during the period. Summit Global Investments bought a new stake in Regional Management during the third quarter valued at about $209,000. PDT Partners LLC purchased a new position in shares of Regional Management in the third quarter valued at about $213,000. Finally, Hancock Whitney Corp bought a new position in shares of Regional Management in the second quarter worth about $234,000. 98.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stephens assumed coverage on Regional Management in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price target on the stock.

Insider Buying and Selling

In other Regional Management news, SVP Catherine R. Atwood sold 1,128 shares of Regional Management stock in a transaction on Friday, December 6th. The shares were sold at an average price of $33.00, for a total value of $37,224.00. Following the completion of the transaction, the senior vice president now directly owns 42,025 shares of the company’s stock, valued at $1,386,825. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert William Beck sold 7,104 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $32.55, for a total transaction of $231,235.20. Following the completion of the sale, the chief executive officer now owns 103,443 shares in the company, valued at approximately $3,367,069.65. This trade represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Regional Management Stock Performance

RM opened at $34.09 on Monday. The stock has a market capitalization of $346.35 million, a price-to-earnings ratio of 14.32 and a beta of 1.52. Regional Management Corp. has a fifty-two week low of $20.50 and a fifty-two week high of $35.02. The company has a debt-to-equity ratio of 3.94, a quick ratio of 44.42 and a current ratio of 44.42. The company has a fifty day moving average of $30.84 and a 200 day moving average of $30.41.

Regional Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $1.20 annualized dividend and a dividend yield of 3.52%. Regional Management’s dividend payout ratio (DPR) is 50.42%.

Regional Management Profile

Regional Management Corp., a diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders in the United States. It offers small and large installment loans; and retail loans to finance the purchase of furniture, appliances, and other retail products.