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

StockNews.com started coverage on shares of Westwood Holdings Group (NYSE:WHG) in a research report sent to investors on Friday. The firm issued a strong-buy rating on the asset manager’s stock.

Westwood Holdings Group Price Performance

Shares of WHG stock opened at $12.29 on Friday. The firm’s 50-day simple moving average is $12.47 and its 200-day simple moving average is $12.40. The firm has a market cap of $114.17 million, a P/E ratio of 9.04 and a beta of 1.17. Westwood Holdings Group has a 1-year low of $8.91 and a 1-year high of $13.63.

Westwood Holdings Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, September 2nd. Westwood Holdings Group’s payout ratio is currently 44.12%.

Hedge Funds Weigh In On Westwood Holdings Group

Several large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in Westwood Holdings Group during the fourth quarter worth about $127,000. SpiderRock Advisors LLC acquired a new stake in Westwood Holdings Group in the 1st quarter worth approximately $144,000. Hillsdale Investment Management Inc. bought a new position in Westwood Holdings Group in the 4th quarter worth approximately $166,000. Cerity Partners LLC bought a new stake in shares of Westwood Holdings Group during the fourth quarter valued at approximately $258,000. Finally, Empowered Funds LLC increased its position in shares of Westwood Holdings Group by 7.6% during the first quarter. Empowered Funds LLC now owns 22,281 shares of the asset manager’s stock valued at $275,000 after purchasing an additional 1,575 shares during the period. 56.64% of the stock is currently owned by institutional investors.

Westwood Holdings Group Company Profile

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.