Lazard Asset Management LLC purchased a new stake in shares of Realogy Holdings Corp. (NYSE:RLGY – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,397 shares of the financial services provider’s stock, valued at approximately $359,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. boosted its holdings in shares of Realogy by 193.4% during the third quarter. Assetmark Inc. now owns 1,517 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,000 shares during the period. Point72 Hong Kong Ltd boosted its holdings in shares of Realogy by 46.4% during the third quarter. Point72 Hong Kong Ltd now owns 5,417 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 1,717 shares during the period. Islay Capital Management LLC purchased a new stake in shares of Realogy during the fourth quarter worth about $114,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Realogy by 57.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,593 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 2,394 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in shares of Realogy by 100.3% during the third quarter. Macquarie Group Ltd. now owns 7,219 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 3,615 shares during the period.
A number of equities analysts recently issued reports on RLGY shares. Zacks Investment Research downgraded shares of Realogy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. StockNews.com started coverage on shares of Realogy in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Barclays increased their price target on shares of Realogy from $17.00 to $19.00 in a research note on Tuesday, February 22nd. JPMorgan Chase & Co. increased their price target on shares of Realogy from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 2nd. Finally, TheStreet downgraded shares of Realogy from a “b-” rating to a “c” rating in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.40.
Realogy (NYSE:RLGY – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.15). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.52 billion. Realogy had a net margin of 4.13% and a return on equity of 14.24%. Realogy’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $0.34 EPS. On average, analysts forecast that Realogy Holdings Corp. will post 2.64 earnings per share for the current fiscal year.
Realogy announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 17th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 14.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
Realogy Company Profile (Get Rating)
Realogy Holdings Corp., through its subsidiaries, provides residential real estate services. It operates through three segments: Realogy Franchise Group, and Realogy Brokerage Group. The Realogy Franchise Group segment franchises its residential real estate brokerages under the Century 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, Sotheby's International Realty, and Better Homes and Gardens Real Estate brand names.
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