Punch & Associates Investment Management Inc. cut its stake in shares of Westwood Holdings Group, Inc. (NYSE:WHG) by 27.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,629 shares of the asset manager’s stock after selling 47,007 shares during the quarter. Punch & Associates Investment Management Inc. owned 1.39% of Westwood Holdings Group worth $7,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Westwood Holdings Group by 287.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 40,013 shares of the asset manager’s stock worth $2,650,000 after buying an additional 29,678 shares during the period. Martingale Asset Management L P boosted its holdings in shares of Westwood Holdings Group by 301.3% during the 4th quarter. Martingale Asset Management L P now owns 31,303 shares of the asset manager’s stock valued at $2,073,000 after buying an additional 23,503 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Westwood Holdings Group by 3.6% during the 1st quarter. Wells Fargo & Company MN now owns 674,811 shares of the asset manager’s stock valued at $38,121,000 after buying an additional 23,413 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Westwood Holdings Group by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 333,304 shares of the asset manager’s stock worth $18,828,000 after purchasing an additional 18,859 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Westwood Holdings Group by 2.9% in the 4th quarter. BlackRock Inc. now owns 585,745 shares of the asset manager’s stock worth $38,782,000 after purchasing an additional 16,621 shares in the last quarter. Institutional investors and hedge funds own 66.83% of the company’s stock.
Westwood Holdings Group opened at $58.92 on Friday, Marketbeat Ratings reports. The company has a market capitalization of $540.27 million, a P/E ratio of 20.88 and a beta of 1.52. Westwood Holdings Group, Inc. has a 12-month low of $53.51 and a 12-month high of $71.00.
Westwood Holdings Group (NYSE:WHG) last issued its quarterly earnings results on Wednesday, April 25th. The asset manager reported $0.99 earnings per share (EPS) for the quarter. Westwood Holdings Group had a return on equity of 15.65% and a net margin of 16.26%. The company had revenue of $33.57 million during the quarter.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be paid a $0.68 dividend. The ex-dividend date is Thursday, June 7th. This represents a $2.72 dividend on an annualized basis and a yield of 4.62%.
Separately, TheStreet upgraded shares of Westwood Holdings Group from a “c+” rating to a “b” rating in a research note on Tuesday, May 29th.
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.
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