Westwood Holdings Group (NYSE:WHG) Cut to “Hold (C+)” at Weiss Ratings

Weiss Ratings downgraded shares of Westwood Holdings Group (NYSE:WHG) from a buy (b-) rating to a hold (c+) rating in a research note published on Friday,Weiss Ratings reports.

Separately, Wall Street Zen raised shares of Westwood Holdings Group from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Westwood Holdings Group Stock Down 0.6%

Shares of NYSE WHG opened at $16.63 on Friday. The firm has a market capitalization of $156.44 million, a P/E ratio of 39.58 and a beta of 0.98. The stock’s 50-day simple moving average is $17.10 and its two-hundred day simple moving average is $16.48. Westwood Holdings Group has a twelve month low of $13.49 and a twelve month high of $18.97.

Westwood Holdings Group (NYSE:WHG) last issued its quarterly earnings results on Friday, August 8th. The asset manager reported $0.22 earnings per share (EPS) for the quarter. The firm had revenue of $23.12 million during 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 2nd. Westwood Holdings Group’s payout ratio is presently 142.86%.

Insider Activity

In related news, CEO Brian O. Casey sold 6,750 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $18.00, for a total transaction of $121,500.00. Following the transaction, the chief executive officer owned 505,926 shares of the company’s stock, valued at approximately $9,106,668. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.20% of the company’s stock.

Institutional Trading of Westwood Holdings Group

Several hedge funds have recently added to or reduced their stakes in WHG. Garner Asset Management Corp boosted its position in Westwood Holdings Group by 4.0% during the first quarter. Garner Asset Management Corp now owns 146,408 shares of the asset manager’s stock valued at $2,372,000 after buying an additional 5,655 shares during the period. Gamco Investors INC. ET AL lifted its stake in shares of Westwood Holdings Group by 1.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 453,180 shares of the asset manager’s stock valued at $7,342,000 after acquiring an additional 6,480 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Westwood Holdings Group during the 1st quarter valued at about $213,000. Empowered Funds LLC grew its position in Westwood Holdings Group by 8.7% during the 1st quarter. Empowered Funds LLC now owns 28,751 shares of the asset manager’s stock worth $466,000 after acquiring an additional 2,291 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Westwood Holdings Group in the 1st quarter worth approximately $366,000. 56.64% of the stock is owned by institutional investors.

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.