Westwood Holdings Group (NYSE:WHG) Share Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Westwood Holdings shares moved above their 50-day moving average, trading at $18.91 versus the average of $18.86; the session high was $19.01.
• Analyst views were mixed: Wall Street Zen downgraded the stock to Hold and Weiss Ratings lowered its rating within the Buy range, while MarketBeat reported a consensus Buy rating.
• The company reported quarterly EPS of $0.48 on $26.57 million in revenue and announced a $0.15 quarterly dividend, equivalent to a 3.2% yield at the quoted share price.

Westwood Holdings Group Inc (NYSE:WHG - Get Free Report)'s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $18.86 and traded as high as $19.01. Westwood Holdings Group shares last traded at $18.91, with a volume of 2,619 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Westwood Holdings Group from a "buy" rating to a "hold" rating in a research note on Saturday, November 7th. Weiss Ratings lowered Westwood Holdings Group from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, November 9th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, Westwood Holdings Group presently has a consensus rating of "Buy".

Westwood Holdings Group Stock Performance

The firm has a market capitalization of $180.02 million, a price-to-earnings ratio of 23.35 and a beta of 0.57. The company has a 50 day moving average price of $18.86 and a two-hundred day moving average price of $17.93.

Westwood Holdings Group (NYSE:WHG - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The asset manager reported $0.48 earnings per share (EPS) for the quarter. The firm had revenue of $26.57 million for the quarter. Westwood Holdings Group had a net margin of 7.00% and a return on equity of 7.20%.

Westwood Holdings Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Westwood Holdings Group's dividend payout ratio (DPR) is presently 74.07%.

Institutional Trading of Westwood Holdings Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Westwood Holdings Group by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 613,114 shares of the asset manager's stock worth $9,749,000 after buying an additional 6,302 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Westwood Holdings Group during the second quarter valued at approximately $11,155,000. Dimensional Fund Advisors LP raised its holdings in shares of Westwood Holdings Group by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 279,685 shares of the asset manager's stock valued at $4,607,000 after acquiring an additional 5,169 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Westwood Holdings Group by 874.2% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 165,978 shares of the asset manager's stock valued at $3,092,000 after acquiring an additional 148,940 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Westwood Holdings Group by 25.2% in the third quarter. Gabelli Funds LLC now owns 102,905 shares of the asset manager's stock valued at $1,917,000 after acquiring an additional 20,695 shares in the last quarter. Hedge funds and other institutional investors own 56.64% of the company's stock.

Westwood Holdings Group Company Profile

Westwood Holdings Group, Inc. is an investment management and wealth management firm headquartered in Dallas, Texas. Through its subsidiaries, it provides investment advisory services to institutional investors, private wealth clients and financial intermediaries in the United States and internationally. The company offers investment strategies across equities, fixed income, alternatives and multi-asset portfolios. Its wealth management services include financial planning and investment management for individuals, families, trusts, foundations and endowments.

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