Morgan Stanley Has $4.06 Million Position in Realogy Holdings Corp. (RLGY)
Morgan Stanley cut its stake in shares of Realogy Holdings Corp. (NYSE:RLGY) by 46.3% during the first quarter, Holdings Channel reports. The firm owned 136,344 shares of the financial services provider’s stock after selling 117,522 shares during the period. Morgan Stanley’s holdings in Realogy Holdings Corp. were worth $4,061,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in RLGY. PNC Financial Services Group Inc. increased its position in Realogy Holdings Corp. by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,136 shares of the financial services provider’s stock worth $123,000 after buying an additional 86 shares during the period. Nisa Investment Advisors LLC bought a new position in Realogy Holdings Corp. during the first quarter worth approximately $134,000. Westpac Banking Corp bought a new position in Realogy Holdings Corp. during the first quarter worth approximately $220,000. Comerica Bank bought a new position in Realogy Holdings Corp. during the first quarter worth approximately $239,000. Finally, Independent Portfolio Consultants Inc. increased its position in Realogy Holdings Corp. by 24.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 7,815 shares of the financial services provider’s stock worth $233,000 after buying an additional 1,535 shares during the period.
Shares of Realogy Holdings Corp. (RLGY) traded up 1.24% during mid-day trading on Monday, hitting $34.21. 91,233 shares of the company’s stock were exchanged. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 19.94 and a beta of 1.40. Realogy Holdings Corp. has a 52 week low of $21.43 and a 52 week high of $35.18. The firm has a 50 day moving average price of $33.25 and a 200-day moving average price of $29.98.
Realogy Holdings Corp. (NYSE:RLGY) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Realogy Holdings Corp. had a return on equity of 9.53% and a net margin of 4.06%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm posted $0.74 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that Realogy Holdings Corp. will post $1.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Monday, August 14th. Realogy Holdings Corp.’s dividend payout ratio (DPR) is currently 21.05%.
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A number of research firms have commented on RLGY. Deutsche Bank AG set a $42.00 price objective on shares of Realogy Holdings Corp. and gave the company a “buy” rating in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Realogy Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $38.00 price objective on shares of Realogy Holdings Corp. in a research note on Thursday. Barclays PLC increased their price objective on shares of Realogy Holdings Corp. from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Friday, August 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $40.00 price objective on shares of Realogy Holdings Corp. in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $35.56.
In other Realogy Holdings Corp. news, SVP Timothy B. Gustavson sold 3,093 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $34.84, for a total transaction of $107,760.12. Following the completion of the transaction, the senior vice president now owns 8,705 shares of the company’s stock, valued at approximately $303,282.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.
About Realogy Holdings Corp.
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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