The Manufacturers Life Insurance Company Cuts Stake in WisdomTree, Inc. (NYSE:WT)

The Manufacturers Life Insurance Company lessened its holdings in shares of WisdomTree, Inc. (NYSE:WT) by 1.7% in the third quarter, Holdings Channel reports. The firm owned 69,508 shares of the company’s stock after selling 1,171 shares during the period. The Manufacturers Life Insurance Company’s holdings in WisdomTree were worth $694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in WisdomTree by 92.5% in the second quarter. Victory Capital Management Inc. now owns 1,922,414 shares of the company’s stock valued at $19,051,000 after acquiring an additional 923,994 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in WisdomTree in the second quarter valued at approximately $5,748,000. Acadian Asset Management LLC acquired a new stake in shares of WisdomTree during the second quarter worth approximately $4,258,000. Marshall Wace LLP grew its position in shares of WisdomTree by 82.3% during the second quarter. Marshall Wace LLP now owns 772,543 shares of the company’s stock worth $7,656,000 after buying an additional 348,850 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of WisdomTree by 51.6% during the second quarter. AQR Capital Management LLC now owns 720,132 shares of the company’s stock worth $7,137,000 after buying an additional 245,041 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Insider Buying and Selling

In related news, insider Peter M. Ziemba sold 100,000 shares of WisdomTree stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.43, for a total value of $1,143,000.00. Following the transaction, the insider now owns 948,386 shares of the company’s stock, valued at approximately $10,840,051.98. This trade represents a 9.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Etfs Capital Limited. sold 3,000,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.34, for a total value of $34,020,000.00. Following the sale, the insider now owns 12,250,000 shares of the company’s stock, valued at $138,915,000. The trade was a 19.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group raised their price objective on WisdomTree from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Northcoast Research cut WisdomTree from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 15th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, WisdomTree has a consensus rating of “Moderate Buy” and an average target price of $12.25.

WisdomTree Price Performance

Shares of NYSE WT opened at $11.38 on Friday. WisdomTree, Inc. has a fifty-two week low of $6.24 and a fifty-two week high of $12.45. The firm’s 50-day simple moving average is $10.95 and its 200 day simple moving average is $10.36. The company has a quick ratio of 2.16, a current ratio of 2.88 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1.66 billion, a P/E ratio of 39.24 and a beta of 1.46.

WisdomTree Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Wednesday, November 6th. WisdomTree’s payout ratio is currently 41.38%.

WisdomTree Company 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.