Gabelli Funds LLC Boosts Stake in Westwood Holdings Group, Inc. (NYSE:WHG)

Gabelli Funds LLC raised its stake in shares of Westwood Holdings Group, Inc. (NYSE:WHG) by 5.2% during the first quarter, HoldingsChannel reports. The firm owned 104,673 shares of the asset manager’s stock after buying an additional 5,127 shares during the quarter. Gabelli Funds LLC’s holdings in Westwood Holdings Group were worth $1,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Gamco Investors INC. ET AL raised its position in Westwood Holdings Group by 2.1% during the first quarter. Gamco Investors INC. ET AL now owns 458,000 shares of the asset manager’s stock valued at $5,643,000 after purchasing an additional 9,500 shares during the period. Russell Investments Group Ltd. raised its position in Westwood Holdings Group by 16.7% during the first quarter. Russell Investments Group Ltd. now owns 242,324 shares of the asset manager’s stock valued at $2,985,000 after purchasing an additional 34,697 shares during the period. Empowered Funds LLC raised its position in Westwood Holdings Group by 7.6% during the first quarter. Empowered Funds LLC now owns 22,281 shares of the asset manager’s stock valued at $275,000 after purchasing an additional 1,575 shares during the period. Prosperity Consulting Group LLC purchased a new stake in Westwood Holdings Group during the first quarter valued at approximately $537,000. Finally, North Star Investment Management Corp. raised its position in Westwood Holdings Group by 1.0% during the first quarter. North Star Investment Management Corp. now owns 353,837 shares of the asset manager’s stock valued at $4,359,000 after purchasing an additional 3,520 shares during the period. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

Westwood Holdings Group Trading Up 0.3 %

Shares of NYSE WHG traded up $0.04 during midday trading on Friday, hitting $13.37. The company’s stock had a trading volume of 11,020 shares, compared to its average volume of 5,483. The business’s 50 day moving average is $12.41 and its two-hundred day moving average is $12.33. Westwood Holdings Group, Inc. has a 12-month low of $8.91 and a 12-month high of $13.63. The firm has a market cap of $124.47 million, a P/E ratio of 9.83 and a beta of 1.17.

Westwood Holdings Group (NYSE:WHG) last issued its quarterly earnings results on Wednesday, May 1st. The asset manager reported $0.21 earnings per share for the quarter. Westwood Holdings Group had a return on equity of 12.53% and a net margin of 13.39%. The firm had revenue of $22.73 million for the quarter.

Westwood Holdings Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.15 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.60 annualized dividend and a dividend yield of 4.49%. Westwood Holdings Group’s payout ratio is 44.12%.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Westwood Holdings Group in a research report on Thursday. They set a “strong-buy” rating on the stock.

Westwood Holdings Group Company Profile

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.