Aviva PLC Reduces Stock Holdings in Resources Connection, Inc. (NASDAQ:RGP)

Aviva PLC reduced its holdings in Resources Connection, Inc. (NASDAQ:RGP – Get Rating) by 36.0% during the 4th quarter, Holdings Channel reports. The fund owned 52,795 shares of the company’s stock after selling 29,693 shares during the period. Aviva PLC’s holdings in Resources Connection were worth $970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Covestor Ltd boosted its stake in shares of Resources Connection by 483.7% during the 1st quarter. Covestor Ltd now owns 1,652 shares of the company’s stock worth $28,000 after acquiring an additional 1,369 shares in the last quarter. Captrust Financial Advisors increased its holdings in Resources Connection by 41.7% in the 1st quarter. Captrust Financial Advisors now owns 2,659 shares of the company’s stock worth $46,000 after acquiring an additional 783 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Resources Connection by 21.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 6,323 shares of the company’s stock worth $114,000 after acquiring an additional 1,097 shares in the last quarter. UBS Group AG increased its holdings in Resources Connection by 38.8% in the 3rd quarter. UBS Group AG now owns 6,553 shares of the company’s stock worth $119,000 after acquiring an additional 1,833 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Resources Connection by 237.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,085 shares of the company’s stock worth $128,000 after acquiring an additional 4,986 shares in the last quarter. 84.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on RGP. JPMorgan Chase & Co. decreased their target price on Resources Connection from $18.00 to $15.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 5th. StockNews.com downgraded Resources Connection from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 11th. Finally, Robert W. Baird decreased their target price on Resources Connection from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 5th.

Insider Transactions at Resources Connection

In other news, Director Donald B. Murray sold 70,000 shares of Resources Connection stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $14.52, for a total transaction of $1,016,400.00. Following the transaction, the director now owns 20,968 shares in the company, valued at approximately $304,455.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.04% of the company’s stock.

Resources Connection Trading Up 0.5 %

Shares of NASDAQ RGP opened at $15.47 on Friday. Resources Connection, Inc. has a 12-month low of $14.03 and a 12-month high of $23.18. The stock has a market cap of $519.79 million, a PE ratio of 8.32 and a beta of 0.71. The company has a 50-day moving average of $15.82 and a 200 day moving average of $17.35.

Resources Connection (NASDAQ:RGP – Get Rating) last announced its quarterly earnings data on Tuesday, April 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.16. Resources Connection had a net margin of 7.81% and a return on equity of 17.01%. The company had revenue of $186.60 million during the quarter, compared to analysts’ expectations of $183.92 million. During the same quarter in the prior year, the company earned $0.58 EPS. Resources Connection’s revenue was down 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Resources Connection, Inc. will post 1.58 EPS for the current fiscal year.

Resources Connection Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 18th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $0.56 annualized dividend and a dividend yield of 3.62%. Resources Connection’s dividend payout ratio is presently 30.11%.

Resources Connection Company Profile

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Resources Connection Inc engages in the provision of business consulting services. It offers consulting and business initiative support services to its global client base in the areas of accounting, finance, corporate governance risk and compliance management, corporate advisory strategic communications and restructuring, information management, human capital, supply chain management, healthcare solutions, and legal and regulatory.