Russell Investments Group Ltd. Has $6.19 Million Stock Holdings in Resources Connection, Inc. $RGP

Key Points

• Russell Investments Group Ltd. increased its stake in Resources Connection, Inc. by 13.6%, owning approximately 946,400 shares valued at around $6.19 million as of the latest reporting period.
• The company has announced a quarterly dividend of $0.07 per share, leading to an annualized dividend of $0.28 and a yield of 6.0%.
• Resources Connection's stock received an upgrade from a "strong sell" to a "hold" rating, although the current consensus rating remains a "sell" with a target price of $5.00.

Russell Investments Group Ltd. grew its holdings in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 13.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 946,400 shares of the company's stock after buying an additional 113,614 shares during the quarter. Russell Investments Group Ltd. owned 2.86% of Resources Connection worth $6,189,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Resources Connection in the 1st quarter valued at $82,000. Assenagon Asset Management S.A. acquired a new position in shares of Resources Connection in the 1st quarter valued at $637,000. GAMMA Investing LLC raised its stake in shares of Resources Connection by 3,712.9% in the 1st quarter. GAMMA Investing LLC now owns 4,728 shares of the company's stock valued at $31,000 after buying an additional 4,604 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Resources Connection by 47.7% in the 4th quarter. Two Sigma Advisers LP now owns 114,506 shares of the company's stock valued at $977,000 after buying an additional 37,000 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Resources Connection by 58.4% in the 4th quarter. Ameriprise Financial Inc. now owns 343,820 shares of the company's stock valued at $2,933,000 after buying an additional 126,796 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Resources Connection from a "strong sell" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Resources Connection presently has a consensus rating of "Sell" and an average price target of $5.00.

Resources Connection Stock Performance

Shares of NASDAQ RGP remained flat at $4.85 during mid-day trading on Tuesday. 231,225 shares of the stock traded hands, compared to its average volume of 286,748. The stock has a market capitalization of $161.70 million, a PE ratio of -0.83, a price-to-earnings-growth ratio of 2.69 and a beta of 0.66. Resources Connection, Inc. has a one year low of $4.44 and a one year high of $10.45. The company has a 50 day simple moving average of $5.20 and a two-hundred day simple moving average of $5.80.

Resources Connection Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, August 29th. Resources Connection's dividend payout ratio (DPR) is -4.81%.

Resources Connection Profile

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.