Clearbridge LLC trimmed its position in shares of Realogy Holdings Corp (NYSE:RLGY) by 22.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 278,631 shares of the financial services provider’s stock after selling 79,996 shares during the period. Clearbridge LLC’s holdings in Realogy were worth $4,090,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Enlightenment Research LLC purchased a new position in Realogy during the 4th quarter valued at about $31,000. Panagora Asset Management Inc. boosted its holdings in Realogy by 87.6% during the 3rd quarter. Panagora Asset Management Inc. now owns 6,638 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 3,100 shares during the period. Crossmark Global Holdings Inc. purchased a new position in Realogy during the 3rd quarter valued at about $209,000. Quantamental Technologies LLC purchased a new position in Realogy during the 4th quarter valued at about $151,000. Finally, Great Lakes Advisors LLC purchased a new position in Realogy during the 3rd quarter valued at about $214,000.
Shares of RLGY opened at $11.86 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $1.37 billion, a PE ratio of 7.91, a P/E/G ratio of 0.45 and a beta of 1.36. Realogy Holdings Corp has a 1 year low of $11.61 and a 1 year high of $28.07.
Realogy (NYSE:RLGY) last announced its quarterly earnings data on Tuesday, February 26th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.08). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Realogy had a net margin of 2.25% and a return on equity of 7.77%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. As a group, sell-side analysts expect that Realogy Holdings Corp will post 1.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Stockholders of record on Monday, March 11th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, March 8th. Realogy’s payout ratio is presently 24.00%.
Realogy declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 26th that authorizes the company to repurchase $175.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of brokerages recently commented on RLGY. Zacks Investment Research cut Realogy from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 21st. Barclays lowered their target price on Realogy from $17.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, February 27th. Susquehanna Bancshares began coverage on Realogy in a report on Thursday, November 29th. They set a “hold” rating and a $20.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Realogy to $14.00 and set an “underweight” rating for the company in a report on Tuesday, March 5th. Finally, Compass Point cut Realogy from a “neutral” rating to a “sell” rating and lowered their target price for the company from $16.50 to $11.25 in a report on Wednesday, February 27th. Five analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.04.
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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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