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

Wellington Management Group LLP lowered its stake in Regional Management Corp. (NYSE:RM - Free Report) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 333,915 shares of the credit services provider's stock after selling 71,214 shares during the quarter. Wellington Management Group LLP owned about 3.29% of Regional Management worth $10,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Regional Management by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 111,610 shares of the credit services provider's stock worth $3,208,000 after buying an additional 5,588 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of 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 worth $141,000 after acquiring an additional 4,913 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Regional Management by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 12,430 shares of the credit services provider's stock worth $357,000 after acquiring an additional 463 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Regional Management by 18.5% in the second quarter. American Century Companies Inc. now owns 106,773 shares of the credit services provider's stock valued at $3,069,000 after purchasing an additional 16,683 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Regional Management by 0.9% in the second quarter. Renaissance Technologies LLC now owns 201,537 shares of the credit services provider's stock worth $5,792,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 98.89% of the company's stock.

Insiders Place Their Bets

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

Regional Management Stock Performance

NYSE:RM traded up $0.08 during mid-day trading on Monday, hitting $34.17. The stock had a trading volume of 40,639 shares, compared to its average volume of 26,361. The company's 50 day simple moving average is $30.89 and its 200 day simple moving average is $30.46. The stock has a market cap of $347.17 million, a price-to-earnings ratio of 14.36 and a beta of 1.52. The company has a debt-to-equity ratio of 3.94, a quick ratio of 44.42 and a current ratio of 44.42. Regional Management Corp. has a twelve month low of $20.50 and a twelve month high of $35.24.

Regional Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Thursday, November 21st. Regional Management's dividend payout ratio is 50.42%.

Analyst Upgrades and Downgrades

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

Regional Management Company Profile

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.