Paloma Partners Management Co raised its position in shares of Realogy Holdings Corp (NYSE:RLGY) by 1,037.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 426,441 shares of the financial services provider’s stock after purchasing an additional 388,951 shares during the quarter. Paloma Partners Management Co owned 0.32% of Realogy worth $11,300,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of RLGY. Fuller & Thaler Asset Management Inc. purchased a new position in Realogy during the fourth quarter valued at approximately $175,000. Country Club Trust Company n.a. purchased a new position in Realogy during the fourth quarter valued at approximately $203,000. State of Alaska Department of Revenue purchased a new position in Realogy during the fourth quarter valued at approximately $209,000. Fox Run Management L.L.C. purchased a new position in Realogy during the fourth quarter valued at approximately $282,000. Finally, Caxton Associates LP purchased a new position in Realogy during the third quarter valued at approximately $290,000.
Several equities analysts have weighed in on RLGY shares. Deutsche Bank set a $35.00 price target on shares of Realogy and gave the company a “buy” rating in a report on Wednesday, February 28th. Stephens reiterated a “buy” rating and set a $33.00 price objective on shares of Realogy in a research report on Friday, February 23rd. Piper Jaffray Companies reiterated a “buy” rating and set a $36.00 price objective on shares of Realogy in a research report on Friday, December 22nd. TheStreet cut shares of Realogy from a “b-” rating to a “c+” rating in a research report on Monday, January 8th. Finally, Zacks Investment Research upgraded shares of Realogy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.60.
Realogy (NYSE:RLGY) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Realogy had a net margin of 7.05% and a return on equity of 8.74%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. Realogy’s quarterly revenue was up 5.4% on a year-over-year basis. sell-side analysts expect that Realogy Holdings Corp will post 1.85 EPS for the current year.
Realogy announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 27th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Monday, March 12th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, March 9th. Realogy’s dividend payout ratio is presently 11.39%.
Realogy Company Profile
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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