Westwood Holdings Group (NYSE:WHG) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Westwood Holdings Group (NYSE:WHG – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a buy rating on the asset manager’s stock.

NYSE:WHG opened at $14.99 on Thursday. The company has a market cap of $128.58 million, a P/E ratio of 20.53 and a beta of 1.22. The stock’s fifty day moving average price is $15.71 and its two-hundred day moving average price is $16.77. Westwood Holdings Group has a 1 year low of $14.65 and a 1 year high of $27.01.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 3rd will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, June 2nd. This represents a $0.60 annualized dividend and a dividend yield of 4.00%. Westwood Holdings Group’s dividend payout ratio is currently 82.19%.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Westwood Holdings Group by 0.6% in the fourth quarter. BlackRock Inc. now owns 187,415 shares of the asset manager’s stock worth $3,175,000 after purchasing an additional 1,157 shares during the period. Royal Bank of Canada increased its holdings in shares of Westwood Holdings Group by 21.5% in the third quarter. Royal Bank of Canada now owns 7,572 shares of the asset manager’s stock worth $145,000 after purchasing an additional 1,341 shares during the period. State Street Corp increased its holdings in shares of Westwood Holdings Group by 6.2% in the first quarter. State Street Corp now owns 29,021 shares of the asset manager’s stock worth $449,000 after purchasing an additional 1,698 shares during the period. Geode Capital Management LLC increased its holdings in shares of Westwood Holdings Group by 3.0% in the third quarter. Geode Capital Management LLC now owns 66,177 shares of the asset manager’s stock worth $1,257,000 after purchasing an additional 1,941 shares during the period. Finally, Gabelli Funds LLC increased its holdings in shares of Westwood Holdings Group by 2.8% in the first quarter. Gabelli Funds LLC now owns 74,641 shares of the asset manager’s stock worth $1,144,000 after purchasing an additional 2,034 shares during the period. 61.73% of the stock is currently owned by hedge funds and other institutional investors.

Westwood Holdings Group Company Profile (Get Rating)

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.

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