Principal Financial Group Inc. Has $6.63 Million Stock Holdings in WisdomTree, Inc. (NYSE:WT)

Principal Financial Group Inc. boosted its holdings in WisdomTree, Inc. (NYSE:WT) by 2.1% during the first quarter, Holdings Channel reports. The fund owned 743,700 shares of the company’s stock after purchasing an additional 15,355 shares during the period. Principal Financial Group Inc.’s holdings in WisdomTree were worth $6,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in WisdomTree in the 1st quarter worth about $152,000. Oppenheimer & Co. Inc. increased its position in WisdomTree by 5.0% in the first quarter. Oppenheimer & Co. Inc. now owns 70,050 shares of the company’s stock worth $625,000 after buying an additional 3,359 shares in the last quarter. Byrne Asset Management LLC boosted its stake in WisdomTree by 114.0% during the first quarter. Byrne Asset Management LLC now owns 3,852 shares of the company’s stock valued at $34,000 after buying an additional 2,052 shares during the last quarter. Tobam raised its holdings in shares of WisdomTree by 44.3% in the first quarter. Tobam now owns 55,091 shares of the company’s stock worth $491,000 after buying an additional 16,913 shares during the period. Finally, Park Avenue Securities LLC increased its holdings in shares of WisdomTree by 13.6% in the 1st quarter. Park Avenue Securities LLC now owns 32,973 shares of the company’s stock valued at $294,000 after acquiring an additional 3,958 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

WisdomTree Price Performance

Shares of NYSE WT opened at $12.57 on Wednesday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 35.91 and a beta of 1.14. WisdomTree, Inc. has a 1-year low of $7.47 and a 1-year high of $12.84. The company has a current ratio of 3.83, a quick ratio of 2.79 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $10.49 and a two-hundred day simple moving average of $9.59.

WisdomTree (NYSE:WT) last posted its earnings results on Friday, May 2nd. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $108.08 million for the quarter, compared to the consensus estimate of $108.47 million. WisdomTree had a return on equity of 25.46% and a net margin of 15.77%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. Analysts anticipate that WisdomTree, Inc. will post 0.72 earnings per share for the current year.

WisdomTree Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a $0.03 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 0.95%. WisdomTree’s dividend payout ratio (DPR) is 34.29%.

Wall Street Analyst Weigh In

WT has been the topic of several research reports. Northcoast Research raised WisdomTree from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Wednesday, July 2nd. The Goldman Sachs Group upgraded WisdomTree from a “sell” rating to a “neutral” rating and increased their target price for the company from $9.50 to $11.90 in a research note on Friday, June 27th. Finally, Morgan Stanley increased their target price on WisdomTree from $9.75 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.99.

WisdomTree Profile

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.