Sei Investments Co. Increases Holdings in Regional Management Corp. $RM

Sei Investments Co. lifted its stake in shares of Regional Management Corp. (NYSE:RM) by 117.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 157,151 shares of the credit services provider’s stock after purchasing an additional 85,040 shares during the quarter. Sei Investments Co.’s holdings in Regional Management were worth $5,068,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in Regional Management by 10.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,810 shares of the credit services provider’s stock worth $385,000 after purchasing an additional 1,092 shares during the period. R Squared Ltd bought a new stake in shares of Regional Management during the first quarter valued at about $212,000. Janney Montgomery Scott LLC increased its position in shares of Regional Management by 2.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,464 shares of the credit services provider’s stock valued at $563,000 after buying an additional 473 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Regional Management in the fourth quarter worth about $248,000. Finally, Empowered Funds LLC lifted its holdings in shares of Regional Management by 10.5% in the fourth quarter. Empowered Funds LLC now owns 55,344 shares of the credit services provider’s stock worth $2,145,000 after buying an additional 5,267 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Regional Management Stock Performance

NYSE:RM opened at $33.97 on Wednesday. The stock has a market cap of $313.52 million, a P/E ratio of 7.15 and a beta of 1.02. The company has a quick ratio of 59.88, a current ratio of 64.04 and a debt-to-equity ratio of 4.41. The business’s 50-day moving average price is $39.07 and its two-hundred day moving average price is $36.44. Regional Management Corp. has a twelve month low of $30.46 and a twelve month high of $46.00.

Regional Management (NYSE:RM) last issued its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. The company had revenue of $168.01 million during the quarter, compared to analyst estimates of $165.69 million. Regional Management had a return on equity of 12.49% and a net margin of 6.98%.

Regional Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Regional Management’s payout ratio is currently 25.26%.

Insider Transactions at Regional Management

In other news, Director Sandra K. Johnson sold 1,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $36.00, for a total value of $36,000.00. Following the transaction, the director owned 21,933 shares of the company’s stock, valued at $789,588. This represents a 4.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Steven B. Barnette sold 3,274 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $43.30, for a total transaction of $141,764.20. Following the sale, the chief accounting officer owned 13,472 shares in the company, valued at approximately $583,337.60. This trade represents a 19.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,874 shares of company stock valued at $350,208 in the last quarter. Insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RM. Wall Street Zen lowered shares of Regional Management from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Citizens Jmp decreased their target price on shares of Regional Management from $45.00 to $43.00 and set a “market outperform” rating on the stock in a report on Thursday, July 30th. Citigroup reiterated a “market outperform” rating on shares of Regional Management in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Regional Management from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

About Regional Management

Regional Management Corp., headquartered in Wilmington, North Carolina, is a consumer finance company specializing in installment loan products for underbanked individuals. Since its founding in 1977, the company has developed a network of field-based branches alongside a digital platform to offer credit solutions in rural and small-town markets across the United States.

The company’s core offerings include consumer installment loans for everyday purchases, auto refinancing and lease buyouts, as well as ancillary services such as insurance referrals.