Wellington Management Group LLP Sells 71,214 Shares of Regional Management Corp. (NYSE:RM)

Wellington Management Group LLP lowered its holdings in shares of Regional Management Corp. (NYSE:RM) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing 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 period. Wellington Management Group LLP owned approximately 3.29% of Regional Management worth $10,922,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Regional Management during the third quarter valued at $105,000. Allspring Global Investments Holdings LLC grew its position in Regional Management by 81,883.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,919 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 4,913 shares during the last quarter. Summit Global Investments bought a new stake in Regional Management during the 3rd quarter valued at about $209,000. PDT Partners LLC purchased a new position in Regional Management in the third quarter worth about $213,000. Finally, Hancock Whitney Corp bought a new position in shares of Regional Management in the second quarter worth approximately $234,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Insider Activity

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

Regional Management Trading Up 1.1 %

Regional Management stock opened at $34.09 on Monday. Regional Management Corp. has a one year low of $20.50 and a one year high of $35.02. The business’s fifty day moving average is $30.84 and its 200 day moving average is $30.41. The company has a debt-to-equity ratio of 3.94, a current ratio of 44.42 and a quick ratio of 44.42. The stock has a market capitalization of $346.35 million, a PE ratio of 14.32 and a beta of 1.52.

Regional Management Announces Dividend

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

Analysts Set New Price Targets

Separately, Stephens started coverage on shares of Regional Management in a research report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price target for the company.

About Regional Management

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.