Legal & General Group Plc Purchases Shares of 298,070 WisdomTree, Inc. $WT

Legal & General Group Plc purchased a new position in shares of WisdomTree, Inc. (NYSE:WT) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 298,070 shares of the company’s stock, valued at approximately $5,049,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WT. Team Financial Group LLC bought a new position in shares of WisdomTree in the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd lifted its stake in WisdomTree by 163.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,454 shares of the company’s stock valued at $30,000 after acquiring an additional 1,521 shares during the last quarter. Quarry LP grew its position in shares of WisdomTree by 1,679.0% in the 3rd quarter. Quarry LP now owns 2,206 shares of the company’s stock valued at $31,000 after acquiring an additional 2,082 shares during the period. Quattro Advisors LLC bought a new position in shares of WisdomTree in the 4th quarter valued at about $31,000. Finally, Hantz Financial Services Inc. increased its stake in shares of WisdomTree by 84.1% during the 4th quarter. Hantz Financial Services Inc. now owns 2,929 shares of the company’s stock worth $36,000 after purchasing an additional 1,338 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

WisdomTree Stock Performance

Shares of WT stock opened at $24.80 on Friday. WisdomTree, Inc. has a 52 week low of $10.69 and a 52 week high of $25.91. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 47.69 and a beta of 1.20. The company has a 50-day simple moving average of $20.97 and a 200 day simple moving average of $18.43. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.73 and a current ratio of 3.00.

WisdomTree (NYSE:WT) last released its quarterly earnings results on Friday, July 31st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $177.16 million for the quarter, compared to analysts’ expectations of $170.62 million. WisdomTree had a net margin of 13.27% and a return on equity of 39.12%. The business’s revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, sell-side analysts predict that WisdomTree, Inc. will post 1.19 earnings per share for the current year.

WisdomTree Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, August 12th. WisdomTree’s dividend payout ratio (DPR) is presently 23.08%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of WisdomTree from $16.40 to $18.30 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Zacks Research lowered WisdomTree from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Northland Securities raised their price objective on WisdomTree from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Raymond James Financial reissued an “outperform” rating and set a $26.00 target price on shares of WisdomTree in a report on Thursday, August 27th. Finally, Weiss Ratings upgraded WisdomTree from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.66.

WisdomTree Company Profile

WisdomTree Investments, Inc (NYSE: WT) is a U.S.-based asset management firm specializing in exchange-traded funds (ETFs) and exchange-traded products (ETPs). Founded in 2006 by Jonathan Steinberg and headquartered in New York City, WisdomTree has developed a reputation for pioneering smart-beta and fundamentally weighted indexing approaches. The company designs strategies that seek to enhance returns and reduce volatility by weighting constituents based on dividends, earnings or other financial metrics rather than relying solely on market capitalization.

WisdomTree offers a broad suite of investment products covering equities, fixed income, currencies, commodities and digital assets.