StockNews.com Initiates Coverage on Westwood Holdings Group (NYSE:WHG)

by · The Cerbat Gem

StockNews.com initiated coverage on shares of Westwood Holdings Group (NYSE:WHG – Free Report) in a research report report published on Sunday morning. The firm issued a buy rating on the asset manager’s stock.

Westwood Holdings Group Stock Up 1.7 %

Westwood Holdings Group stock opened at $15.33 on Friday. The stock’s 50 day moving average is $13.35 and its 200 day moving average is $12.83. The company has a market capitalization of $142.42 million, a P/E ratio of 21.00 and a beta of 1.15. Westwood Holdings Group has a twelve month low of $8.91 and a twelve month high of $16.67.

Westwood Holdings Group (NYSE:WHG – Get Free Report) last released its earnings results on Wednesday, July 31st. The asset manager reported ($0.18) EPS for the quarter. The company had revenue of $22.69 million during the quarter. Westwood Holdings Group had a return on equity of 7.86% and a net margin of 7.63%.

Westwood Holdings Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were issued a $0.15 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.60 annualized dividend and a yield of 3.91%. Westwood Holdings Group’s dividend payout ratio (DPR) is presently 82.19%.

Hedge Funds Weigh In On Westwood Holdings Group

A number of hedge funds have recently added to or reduced their stakes in the company. Garner Asset Management Corp increased its holdings in shares of Westwood Holdings Group by 85.4% in the 2nd quarter. Garner Asset Management Corp now owns 116,937 shares of the asset manager’s stock worth $1,424,000 after purchasing an additional 53,870 shares in the last quarter. Prosperity Consulting Group LLC purchased a new stake in shares of Westwood Holdings Group during the first quarter valued at $537,000. Russell Investments Group Ltd. increased its holdings in Westwood Holdings Group by 16.7% in the 1st quarter. Russell Investments Group Ltd. now owns 242,324 shares of the asset manager’s stock worth $2,985,000 after buying an additional 34,697 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in Westwood Holdings Group by 2.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 459,320 shares of the asset manager’s stock worth $5,595,000 after buying an additional 13,012 shares during the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in shares of Westwood Holdings Group during the 1st quarter valued at about $144,000. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

About Westwood Holdings Group

(Get Free Report)

Westwood Holdings Group, Inc, through its subsidiaries, manages investment assets and provides services for its clients. The company operates in two segments, Advisory and Trust. The Advisory segment provides investment advisory services to corporate retirement plans, public retirement plans, endowments, foundations, individuals, and the Westwood Funds; and investment sub-advisory services to mutual funds, pooled investment vehicles, and its Trust segment.

Further Reading