Vaughan Nelson Investment Management L.P. Sells 966,327 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Vaughan Nelson Investment Management L.P. lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 21.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,568,501 shares of the company's stock after selling 966,327 shares during the quarter. Wheaton Precious Metals accounts for approximately 1.8% of Vaughan Nelson Investment Management L.P.'s holdings, making the stock its 14th biggest holding. Vaughan Nelson Investment Management L.P. owned about 0.79% of Wheaton Precious Metals worth $176,070,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $26,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $31,000. Atlas Capital Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Wheaton Precious Metals by 54.7% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company's stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Wheaton Precious Metals by 230.7% in the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company's stock worth $43,000 after purchasing an additional 602 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Stock Up 1.1 %

NYSE WPM traded up $0.54 on Friday, hitting $50.57. The stock had a trading volume of 1,885,103 shares, compared to its average volume of 1,969,309. Wheaton Precious Metals Corp. has a one year low of $38.37 and a one year high of $52.76. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 42.50, a P/E/G ratio of 12.99 and a beta of 0.77. The company's 50-day moving average is $44.89 and its two-hundred day moving average is $45.30.

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be given a $0.155 dividend. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.62 annualized dividend and a yield of 1.23%. Wheaton Precious Metals's dividend payout ratio is 52.10%.

Wall Street Analyst Weigh In

WPM has been the subject of several research analyst reports. BMO Capital Markets dropped their target price on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an "outperform" rating for the company in a research report on Wednesday, February 21st. Raymond James dropped their target price on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a "market perform" rating for the company in a research report on Thursday, February 22nd. TD Securities raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating and boosted their target price for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. Scotiabank lowered their price objective on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a "sector outperform" rating for the company in a research report on Wednesday, February 28th. Finally, Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.63.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.