Legal & General Group Plc Acquires New Shares in WisdomTree, Inc. $WT

Key Points

• Legal & General Group Plc acquired 298,070 WisdomTree shares worth approximately $5.05 million, giving it a 0.20% stake. Institutional investors and hedge funds collectively own 78.64% of the company.
• Analyst sentiment is favorable, with four Buy ratings and three Holds. WisdomTree has a “Moderate Buy” consensus rating and an average price target of $23.66, while Oppenheimer recently raised its target to $27.
• WisdomTree reported quarterly EPS of $0.31, beating estimates by $0.05, while revenue rose 57.3% year over year to $177.16 million. The company also declared a quarterly dividend of $0.03 per share.

Legal & General Group Plc bought a new stake in WisdomTree, Inc. (NYSE:WT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 298,070 shares of the company's stock, valued at approximately $5,049,000. Legal & General Group Plc owned 0.20% of WisdomTree at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of WisdomTree by 2.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 456,990 shares of the company's stock valued at $4,076,000 after acquiring an additional 12,402 shares during the period. Jane Street Group LLC grew its holdings in WisdomTree by 379.3% during the first quarter. Jane Street Group LLC now owns 880,977 shares of the company's stock valued at $7,858,000 after purchasing an additional 697,156 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in WisdomTree by 35.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 301,138 shares of the company's stock valued at $3,466,000 after purchasing an additional 78,837 shares in the last quarter. Sei Investments Co. increased its stake in WisdomTree by 722.3% in the second quarter. Sei Investments Co. now owns 93,039 shares of the company's stock valued at $1,071,000 after purchasing an additional 81,725 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in WisdomTree by 20.0% in the second quarter. AQR Capital Management LLC now owns 482,313 shares of the company's stock worth $5,551,000 after purchasing an additional 80,361 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WT. Raymond James Financial reissued an "outperform" rating and issued a $26.00 price target on shares of WisdomTree in a report on Thursday, August 27th. Morgan Stanley set a $21.00 target price on WisdomTree in a research note on Wednesday, July 29th. Weiss Ratings upgraded WisdomTree from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, August 19th. Wall Street Zen upgraded WisdomTree from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Oppenheimer increased their target price on WisdomTree from $22.00 to $27.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 26th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.66.

WisdomTree Stock Up 4.5%

NYSE:WT opened at $24.80 on Friday. The stock has a 50-day simple moving average of $20.97 and a 200 day simple moving average of $18.43. WisdomTree, Inc. has a 52-week low of $10.69 and a 52-week high of $25.91. The company has a market cap of $3.76 billion, a PE ratio of 47.69 and a beta of 1.20. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.73 and a current ratio of 3.00.

WisdomTree (NYSE:WT - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. WisdomTree had a return on equity of 39.12% and a net margin of 13.27%.The firm 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 EPS. The business's quarterly revenue was up 57.3% compared to the same quarter last year. On average, sell-side analysts expect that WisdomTree, Inc. will post 1.19 EPS for the current fiscal year.

WisdomTree Announces Dividend

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

WisdomTree Profile

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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