62,620 Shares in WisdomTree, Inc. $WT Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 62,620 WisdomTree shares worth approximately $1.06 million, while institutional investors collectively own 78.64% of the stock.
• Analyst sentiment is mixed: three analysts rate WisdomTree a Buy and four rate it a Hold, producing an average rating of Hold and an average price target of $23.66. Recent targets range from $21 to $27.
• WisdomTree exceeded quarterly expectations, reporting $0.31 in earnings per share and $177.16 million in revenue, with revenue up 57.3% year over year. The company also maintains a quarterly dividend of $0.03 per share, or a 0.5% annualized yield.

The Manufacturers Life Insurance Company bought a new position in shares of WisdomTree, Inc. (NYSE:WT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 62,620 shares of the company's stock, valued at approximately $1,061,000.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. increased its stake in shares of WisdomTree by 3.9% in the fourth quarter. Russell Investments Group Ltd. now owns 20,605 shares of the company's stock worth $251,000 after purchasing an additional 778 shares in the last quarter. Clearstead Trust LLC bought a new position in WisdomTree in the 2nd quarter worth $92,000. Pictet Asset Management Holding SA increased its stake in WisdomTree by 5.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 21,947 shares of the company's stock worth $320,000 after buying an additional 1,108 shares in the last quarter. Osaic Holdings Inc. raised its holdings in WisdomTree by 1.5% during the second quarter. Osaic Holdings Inc. now owns 87,126 shares of the company's stock valued at $1,003,000 after acquiring an additional 1,266 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in shares of WisdomTree by 2.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 61,799 shares of the company's stock valued at $753,000 after acquiring an additional 1,281 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WT has been the subject of several research analyst reports. Weiss Ratings cut WisdomTree from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Morgan Stanley set a $21.00 price target on WisdomTree in a research note on Wednesday, July 29th. Zacks Research lowered shares of WisdomTree from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Northland Securities lifted their price objective on shares of WisdomTree from $22.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. Finally, Oppenheimer upped their target price on shares of WisdomTree from $22.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 26th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $23.66.

WisdomTree Stock Up 0.2%

Shares of WT opened at $24.92 on Friday. The company has a debt-to-equity ratio of 2.53, a current ratio of 3.00 and a quick ratio of 2.73. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 47.92 and a beta of 1.20. WisdomTree, Inc. has a 1 year low of $10.69 and a 1 year high of $25.91. The business's 50 day simple moving average is $21.12 and its 200-day simple moving average is $18.47.

WisdomTree (NYSE:WT - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. WisdomTree had a net margin of 13.27% and a return on equity of 39.12%. The company had revenue of $177.16 million for the quarter, compared to analysts' expectations of $170.62 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. WisdomTree's quarterly revenue was up 57.3% on a year-over-year basis. As a group, equities analysts expect that WisdomTree, Inc. will post 1.19 earnings per share for the current fiscal year.

WisdomTree Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, August 12th. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. WisdomTree's dividend payout ratio is 23.08%.

About WisdomTree

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.

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