Ameriprise Financial Inc. Has $2.45 Million Holdings in Resources Connection, Inc. (RECN)

Ameriprise Financial Inc. cut its holdings in Resources Connection, Inc. (NASDAQ:RECN) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 176,557 shares of the business services provider’s stock after selling 9,500 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.59% of Resources Connection worth $2,454,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Resources Connection in the third quarter valued at $153,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Resources Connection by 58.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock valued at $155,000 after buying an additional 4,120 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Resources Connection in the third quarter valued at $164,000. BNP Paribas Arbitrage SA increased its stake in shares of Resources Connection by 44.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,303 shares of the business services provider’s stock valued at $169,000 after buying an additional 3,761 shares in the last quarter. Finally, AHL Partners LLP increased its stake in shares of Resources Connection by 8.7% in the second quarter. AHL Partners LLP now owns 15,851 shares of the business services provider’s stock valued at $217,000 after buying an additional 1,262 shares in the last quarter. Institutional investors own 80.99% of the company’s stock.

Shares of Resources Connection, Inc. (RECN) opened at $15.75 on Friday. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $459.45, a price-to-earnings ratio of 27.16 and a beta of 1.18. Resources Connection, Inc. has a 12 month low of $12.05 and a 12 month high of $17.58.

Resources Connection (NASDAQ:RECN) last announced its quarterly earnings data on Wednesday, January 3rd. The business services provider reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $156.70 million during the quarter, compared to analyst estimates of $152.91 million. Resources Connection had a return on equity of 8.38% and a net margin of 2.98%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. sell-side analysts predict that Resources Connection, Inc. will post 0.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 16th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.05%. Resources Connection’s payout ratio is 82.76%.

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 target price for the company. in a research note on Thursday. Robert W. Baird restated a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a research note on Friday, November 10th. BidaskClub lowered Resources Connection from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research lowered Resources Connection from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Deutsche Bank restated a “sell” rating and issued a $13.00 target price (up from $12.00) on shares of Resources Connection in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $15.25.

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Resources Connection Profile

Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.

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Institutional Ownership by Quarter for Resources Connection (NASDAQ:RECN)

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