WisdomTree Investments, Inc. (NASDAQ:WETF) Declares Quarterly Dividend of $0.03
WisdomTree Investments, Inc. (NASDAQ:WETF – Get Rating) announced a quarterly dividend on Friday, April 29, Zacks reports. Shareholders of record on Wednesday May 11 will receive a dividend of 0.03 per share from the asset manager on Wednesday May 25. This represents a dividend of $0.12 on an annualized basis and a yield of 2.06%. The ex-dividend date is Tuesday, May 10.
WisdomTree Investments has a dividend payout ratio of 30.0%, which means its dividend is sufficiently covered by earnings. Research analysts expect WisdomTree Investments to earn $0.39 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.12 with a ratio of expected future payout of 30.8%.
Shares of WETF opened at $5.83 on Friday. WisdomTree Investments has a 12-month low of $5.08 and a 12-month high of $7.38. The stock’s 50-day moving average is $8.19 and its two-hundred-day moving average is $10.86. The company has a market capitalization of $854.62 million, a PE ratio of 18.81 and a beta of 1.71. The company has a current ratio of 3.63, a quick ratio of 2.11 and a debt ratio of 1.18.
WisdomTree Investments (NASDAQ:WETF – Get Rating) last reported quarterly earnings data on Friday, April 29. The asset manager reported earnings per share of $0.09 for the quarter, beating the Zacks consensus estimate of $0.08 by $0.01. WisdomTree Investments had a return on equity of 23.10% and a net margin of 16.18%. The company posted revenue of $78.40 million for the quarter, versus analyst estimates of $78.74 million. In the same quarter of the previous year, the company achieved EPS of $0.08. The company’s revenue for the quarter increased 10.0% compared to the same quarter last year. On average, sell-side analysts expect WisdomTree Investments to post EPS of 0.39 for the current year.
In other news from WisdomTree Investments, CEO Jonathan L. Steinberg sold 153,913 shares of the company in a trade on Tuesday, February 15. The shares were sold at an average price of $5.87, for a total value of $903,469.31. The sale was disclosed in a document filed with the SEC, which is available at this link. 8.00% of the shares are currently held by insiders.
A number of hedge funds have recently changed their holdings in the company. Wells Fargo & Company MN increased its stake in shares of WisdomTree Investments by 9.1% in Q2. Wells Fargo & Company MN now owns 181,390 shares of the asset manager valued at $1,124,000 after buying an additional 15,160 shares last quarter. Morgan Stanley increased its stake in shares of WisdomTree Investments by 51.6% in Q2. Morgan Stanley now owns 1,700,384 shares of the asset manager valued at $10,542,000 after buying an additional 578,514 shares last quarter. Royal Bank of Canada increased its stake in shares of WisdomTree Investments by 11.5% in the third quarter. Royal Bank of Canada now owns 78,102 shares of the asset manager valued at $443,000 after buying an additional 8,079 shares last quarter. Janus Henderson Group PLC acquired a new stake in shares of WisdomTree Investments in Q3 valued at approximately $65,000. Finally, BNP Paribas Arbitrage SA increased its stake in WisdomTree Investments shares by 184.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 114,251 shares in the asset manager valued at $648,000 after buying an additional 74,142 shares last quarter. Hedge funds and other institutional investors own 80.73% of the company’s shares.
WETF has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft cut its price target on shares of WisdomTree Investments from $7.00 to $6.00 in a Thursday, April 7 research report. StockNews.com began covering WisdomTree Investments in a research report on Thursday, March 31. They set a “holding” rating for the company. Zacks Investment Research downgraded WisdomTree Investments from a “buy” rating to a “hold” rating in a Friday, March 11 research report. Finally, Morgan Stanley cut its price target on WisdomTree Investments from $7.00 to $6.75 in a Friday, April 8 research report. Four investment analysts gave the stock a hold rating and one gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.44.
About WisdomTree Investments (Get a rating)
WisdomTree Investments, Inc, through its subsidiaries, operates as a sponsor and asset manager of exchange-traded funds (ETFs). It offers ETFs on stocks, currencies, fixed income securities and alternative asset classes. The company also licenses its indices to third parties for proprietary products, and offers a platform to promote the use of WisdomTree ETFs in 401(k) plans.
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