Waterdrop (NYSE:WDH) Sets New 12-Month High Following Dividend Announcement

Waterdrop Inc. Unsponsored ADR (NYSE:WDH)’s share price reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The company traded as high as $2.18 and last traded at $1.87, with a volume of 1016149 shares changing hands. The stock had previously closed at $1.78.

The newly announced dividend which will be paid on Friday, November 7th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 6.6%. The ex-dividend date is Friday, October 10th. Waterdrop’s payout ratio is presently 20.00%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Waterdrop from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th.

Waterdrop Stock Performance

The firm’s 50 day moving average is $1.68 and its 200-day moving average is $1.46. The stock has a market capitalization of $657.90 million, a price-to-earnings ratio of 10.68 and a beta of -0.27.

Institutional Investors Weigh In On Waterdrop

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDH. E Fund Management Co. Ltd. purchased a new stake in shares of Waterdrop during the second quarter worth $372,000. Marshall Wace LLP acquired a new position in Waterdrop in the second quarter valued at about $25,000. Invesco Ltd. acquired a new position in Waterdrop in the second quarter valued at about $156,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Waterdrop in the second quarter valued at about $372,000. Finally, Baader Bank Aktiengesellschaft lifted its position in Waterdrop by 28.6% in the first quarter. Baader Bank Aktiengesellschaft now owns 1,660,910 shares of the company’s stock valued at $2,475,000 after buying an additional 369,325 shares during the last quarter. Hedge funds and other institutional investors own 1.96% of the company’s stock.

About Waterdrop

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.