Waterdrop (NYSE:WDH) Reaches New 52-Week High After Dividend Announcement

Key Points

• Waterdrop Inc. shares reached a new 52-week high of $2.18 following the announcement of a $0.03 dividend, which translates to an annualized dividend of $0.12 and a yield of 6.7%.
• Despite the positive stock movement, Wall Street Zen downgraded Waterdrop from a "buy" to a "hold" rating on July 26th.
• After missing earnings expectations with a reported EPS of $0.05 compared to the consensus of $0.26, Waterdrop’s return on equity stood at 8.21% and net margin at 13.78%.

Waterdrop Inc. Unsponsored ADR (NYSE:WDH - Get Free Report) reached a new 52-week high on Thursday after the company announced a dividend. The stock traded as high as $2.18 and last traded at $1.87, with a volume of 1016149 shares traded. The stock had previously closed at $1.78.

The newly announced dividend which will be paid on Friday, November 7th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 6.5%. Waterdrop's dividend payout ratio is presently 17.65%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Waterdrop from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th.

Waterdrop Trading Down 2.4%

The stock has a market cap of $672.40 million, a price-to-earnings ratio of 10.91 and a beta of -0.27. The stock's 50 day moving average is $1.69 and its two-hundred day moving average is $1.47.

Institutional Investors Weigh In On Waterdrop

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in shares of Waterdrop in the second quarter valued at approximately $25,000. Jane Street Group LLC acquired a new stake in shares of Waterdrop during the fourth quarter valued at $78,000. Invesco Ltd. purchased a new stake in shares of Waterdrop during the second quarter worth about $156,000. E Fund Management Co. Ltd. purchased a new position in shares of Waterdrop during the 2nd quarter worth $372,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Waterdrop in the 2nd quarter valued at about $372,000. Hedge funds and other institutional investors own 1.96% of the company's stock.

Waterdrop Company Profile

Waterdrop Inc, through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People's Republic of China. The company offers short-term health and long-term health and life insurance products and services.