Insider Selling: Westwood Holdings Group (NYSE:WHG) CEO Sells 6,750 Shares of Stock

Key Points

• Westwood Holdings Group CEO Brian Casey sold 6,750 shares of the company's stock for a total of $121,500, reducing his ownership by 1.32% to approximately 505,926 shares.
• The company recently declared a quarterly dividend of $0.15, with a dividend yield of 3.5% and an annualized payout of $0.60.
• Westwood Holdings Group's stock has a market cap of $163.58 million and a 52-week trading range between $12.20 and $18.97.

Westwood Holdings Group Inc (NYSE:WHG - Get Free Report) CEO Brian Casey sold 6,750 shares of Westwood Holdings Group stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $18.00, for a total value of $121,500.00. Following the transaction, the chief executive officer owned 505,926 shares in the company, valued at approximately $9,106,668. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Westwood Holdings Group Stock Performance

WHG stock traded up $0.05 during midday trading on Wednesday, hitting $17.38. 21,095 shares of the company's stock were exchanged, compared to its average volume of 24,341. The stock's fifty day moving average price is $17.18 and its 200-day moving average price is $16.22. The company has a market cap of $163.58 million, a PE ratio of 41.39 and a beta of 1.00. Westwood Holdings Group Inc has a one year low of $12.20 and a one year high of $18.97.

Westwood Holdings Group (NYSE:WHG - Get Free Report) last posted its earnings results on Friday, August 8th. The asset manager reported $0.22 earnings per share for the quarter. The firm had revenue of $23.12 million for the quarter. Westwood Holdings Group had a return on equity of 5.19% and a net margin of 3.92%.

Westwood Holdings Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 2nd. Westwood Holdings Group's payout ratio is 142.86%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Westwood Holdings Group from a "hold" rating to a "buy" rating in a report on Saturday, August 16th.

Institutional Trading of Westwood Holdings Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC increased its position in shares of Westwood Holdings Group by 2.9% in the second quarter. Bridgeway Capital Management LLC now owns 86,620 shares of the asset manager's stock valued at $1,351,000 after acquiring an additional 2,417 shares during the last quarter. Bank of America Corp DE increased its position in shares of Westwood Holdings Group by 3.8% in the second quarter. Bank of America Corp DE now owns 62,650 shares of the asset manager's stock valued at $977,000 after acquiring an additional 2,297 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Westwood Holdings Group in the second quarter valued at about $85,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Westwood Holdings Group in the second quarter valued at about $63,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Westwood Holdings Group in the second quarter valued at about $98,000. Institutional investors and hedge funds own 56.64% of the company's stock.

About Westwood Holdings Group

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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