Axa S.A. Purchases 8,936 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Axa S.A. boosted its position in shares of Resources Connection, Inc. (NASDAQ:RGP) by 11.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,356 shares of the company’s stock after buying an additional 8,936 shares during the period. Axa S.A. owned approximately 0.26% of Resources Connection worth $953,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RGP. Circumference Group LLC bought a new stake in shares of Resources Connection in the 4th quarter worth about $6,376,000. Russell Investments Group Ltd. raised its position in Resources Connection by 113.8% during the first quarter. Russell Investments Group Ltd. now owns 130,769 shares of the company’s stock valued at $1,721,000 after purchasing an additional 69,594 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Resources Connection by 53.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 394,820 shares of the company’s stock valued at $5,196,000 after purchasing an additional 137,604 shares during the period. Prosperity Consulting Group LLC purchased a new position in shares of Resources Connection in the 1st quarter worth approximately $366,000. Finally, Boston Partners bought a new position in shares of Resources Connection during the 1st quarter valued at approximately $175,000. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Resources Connection Stock Down 2.4 %

RGP stock opened at $9.47 on Wednesday. Resources Connection, Inc. has a twelve month low of $9.26 and a twelve month high of $14.97. The firm has a market cap of $320.15 million, a price-to-earnings ratio of 14.35, a PEG ratio of 1.42 and a beta of 0.65. The business’s fifty day simple moving average is $10.25 and its two-hundred day simple moving average is $10.93.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.10 by $0.18. The company had revenue of $148.20 million for the quarter, compared to the consensus estimate of $140.59 million. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. The firm’s revenue was down 19.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. Research analysts expect that Resources Connection, Inc. will post 0.45 EPS for the current year.

Resources Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were paid a $0.14 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.56 annualized dividend and a yield of 5.91%. Resources Connection’s dividend payout ratio (DPR) is currently 84.85%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, July 23rd. StockNews.com cut shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.00.

Insiders Place Their Bets

In other news, Director Roger D. Carlile acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average cost of $11.25 per share, for a total transaction of $281,250.00. Following the completion of the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $281,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Resources Connection news, Director Roger D. Carlile acquired 25,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $281,250.00. Following the completion of the purchase, the director now owns 25,000 shares in the company, valued at $281,250. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jennifer Y. Ryu sold 11,650 shares of Resources Connection stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total transaction of $131,062.50. Following the transaction, the chief financial officer now directly owns 84,481 shares in the company, valued at $950,411.25. The disclosure for this sale can be found here. 7.36% of the stock is currently owned by company insiders.

About Resources Connection

Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.