WisdomTree, Inc. (NYSE:WT) to Issue $0.03 Quarterly Dividend

WisdomTree, Inc. (NYSE:WT) announced a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 0.03 per share on Wednesday, May 22nd. This represents a $0.12 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Tuesday, May 7th.

WisdomTree has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Analysts expect WisdomTree to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 20.0%.

WisdomTree Stock Performance

NYSE WT opened at $9.26 on Monday. The stock has a market cap of $1.41 billion, a PE ratio of 13.62 and a beta of 1.48. WisdomTree has a twelve month low of $6.06 and a twelve month high of $9.69. The stock has a fifty day simple moving average of $8.80 and a 200-day simple moving average of $7.49. The company has a current ratio of 2.95, a quick ratio of 2.18 and a debt-to-equity ratio of 0.65.

WisdomTree (NYSE:WT) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. WisdomTree had a net margin of 29.80% and a return on equity of 16.31%. The business had revenue of $96.84 million during the quarter, compared to analysts’ expectations of $94.32 million. During the same period last year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. Equities analysts anticipate that WisdomTree will post 0.56 earnings per share for the current year.

Insider Activity at WisdomTree

In other news, CEO Jonathan L. Steinberg acquired 303,781 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $7.20 per share, with a total value of $2,187,223.20. Following the purchase, the chief executive officer now directly owns 9,172,838 shares of the company’s stock, valued at approximately $66,044,433.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WT shares. UBS Group upped their target price on shares of WisdomTree from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and issued a $11.00 price objective on shares of WisdomTree in a research note on Monday, April 29th. Northland Securities upgraded shares of WisdomTree from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Wednesday, April 3rd. Craig Hallum initiated coverage on WisdomTree in a research note on Wednesday, March 6th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Morgan Stanley raised their price target on WisdomTree from $7.75 to $9.25 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.88.

About WisdomTree

WisdomTree, Inc, through its subsidiaries, operates as an exchange-traded funds (ETFs) sponsor and asset manager. It offers ETFs in equities, currency, fixed income, and alternatives asset classes. The company also licenses its indexes to third parties for proprietary products, as well as offers a platform to promote the use of WisdomTree ETFs in 401(k) plans.