WisdomTree, Inc. (NYSE:WT) Declares Quarterly Dividend of $0.03

WisdomTree, Inc. (NYSE:WT) announced a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Wednesday, May 8th will be paid a dividend of 0.03 per share on Wednesday, May 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, May 7th.

WisdomTree has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect WisdomTree to earn $0.58 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 20.7%.

WisdomTree Price Performance

NYSE:WT traded up $0.27 during trading hours on Monday, reaching $8.92. 1,472,243 shares of the company were exchanged, compared to its average volume of 1,162,705. The company has a market capitalization of $1.35 billion, a P/E ratio of 12.99 and a beta of 1.49. WisdomTree has a 1-year low of $6.05 and a 1-year high of $9.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.95 and a quick ratio of 2.18. The business has a 50 day moving average of $8.64 and a 200 day moving average of $7.42.

WisdomTree (NYSE:WT) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $96.84 million for the quarter, compared to the consensus estimate of $94.32 million. WisdomTree had a return on equity of 16.31% and a net margin of 29.80%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 earnings per share. Research analysts forecast that WisdomTree will post 0.52 EPS for the current year.

Insider Transactions at WisdomTree

In other news, CEO Jonathan L. Steinberg bought 303,781 shares of WisdomTree stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $7.20 per share, for a total transaction of $2,187,223.20. Following the purchase, the chief executive officer now directly owns 9,172,838 shares in the company, valued at approximately $66,044,433.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on WT. Northland Securities raised WisdomTree from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Wednesday, April 3rd. Craig Hallum began coverage on WisdomTree in a research note on Wednesday, March 6th. They issued a “buy” rating and a $12.00 price target for the company. UBS Group increased their price target on WisdomTree from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and issued a $11.00 price target on shares of WisdomTree in a research note on Monday. Finally, Morgan Stanley increased their price target on WisdomTree from $7.75 to $9.25 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a hold rating and five have assigned a buy 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 $10.88.

About WisdomTree

WisdomTree, Inc, through its subsidiaries, operates as an exchange-traded funds (ETFs) sponsor and asset manager. It offers ETFs in equities, currency, fixed income, and alternatives asset classes. The company also licenses its indexes to third parties for proprietary products, as well as offers a platform to promote the use of WisdomTree ETFs in 401(k) plans.