Millennium Management LLC cut its holdings in shares of Realogy Holdings Corp (NYSE:RLGY) by 17.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,217,107 shares of the financial services provider’s stock after selling 262,606 shares during the quarter. Millennium Management LLC’s holdings in Realogy were worth $32,253,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Meadow Creek Investment Management LLC increased its stake in Realogy by 162.5% during the fourth quarter. Meadow Creek Investment Management LLC now owns 62,412 shares of the financial services provider’s stock worth $1,654,000 after purchasing an additional 38,640 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in Realogy by 38.7% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 484,783 shares of the financial services provider’s stock worth $12,846,000 after purchasing an additional 135,271 shares during the period. Elkfork Partners LLC increased its stake in Realogy by 90.9% during the fourth quarter. Elkfork Partners LLC now owns 35,664 shares of the financial services provider’s stock worth $945,000 after purchasing an additional 16,986 shares during the period. Paloma Partners Management Co increased its stake in Realogy by 1,037.5% during the fourth quarter. Paloma Partners Management Co now owns 426,441 shares of the financial services provider’s stock worth $11,300,000 after purchasing an additional 388,951 shares during the period. Finally, Raymond James & Associates increased its stake in Realogy by 45.6% during the fourth quarter. Raymond James & Associates now owns 32,859 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 10,298 shares during the period.
Realogy stock opened at $26.32 on Friday. Realogy Holdings Corp has a 52-week low of $23.86 and a 52-week high of $35.18. The company has a market capitalization of $3,425.57, a PE ratio of 8.33, a PEG ratio of 0.69 and a beta of 1.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.80 and a current ratio of 0.80.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 12th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, March 9th. Realogy’s dividend payout ratio is presently 11.39%.
Realogy declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 27th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
A number of analysts have issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $36.00 price target on shares of Realogy in a research note on Friday, December 22nd. Stephens reiterated a “buy” rating and set a $33.00 price target on shares of Realogy in a research note on Friday, February 23rd. Zacks Investment Research upgraded shares of Realogy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 7th. TheStreet lowered shares of Realogy from a “b-” rating to a “c+” rating in a research note on Monday, January 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Realogy to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Realogy has an average rating of “Hold” and a consensus price target of $33.60.
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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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