Waterdrop (NYSE:WDH) Shares Up 5.8% Following Dividend Announcement

Waterdrop Inc. Unsponsored ADR (NYSE:WDH) shares traded up 5.8% on Thursday following a dividend announcement from the company. The company traded as high as $1.7350 and last traded at $1.7450. 97,104 shares were traded during mid-day trading, a decline of 66% from the average session volume of 285,200 shares. The stock had previously closed at $1.65.

The newly announced dividend which will be paid on Wednesday, May 20th. Stockholders of record on Friday, April 24th will be paid a dividend of $0.03 per share. This represents a dividend yield of 363.0%. The ex-dividend date of this dividend is Friday, April 24th. Waterdrop’s dividend payout ratio is 23.81%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Waterdrop from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.00.

Waterdrop Price Performance

The stock’s 50 day moving average is $1.74 and its two-hundred day moving average is $1.79. The firm has a market capitalization of $574.53 million, a P/E ratio of 7.55 and a beta of -0.28.

Waterdrop (NYSE:WDH) last announced its quarterly earnings data on Wednesday, March 25th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Waterdrop had a net margin of 14.28% and a return on equity of 11.34%. The firm had revenue of $201.71 million for the quarter, compared to analysts’ expectations of $117.69 million.

Institutional Investors Weigh In On Waterdrop

Institutional investors have recently made changes to their positions in the stock. IDG China Capital Fund GP III Associates Ltd. bought a new stake in Waterdrop in the fourth quarter valued at about $538,000. SmartHarvest Portfolios LLC bought a new position in Waterdrop during the fourth quarter worth about $86,000. Boundless Plain Holdings Ltd acquired a new position in shares of Waterdrop during the 4th quarter worth about $21,936,000. Ethos Financial Group LLC bought a new stake in shares of Waterdrop in the 4th quarter valued at about $73,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Waterdrop in the 3rd quarter valued at about $80,000. 1.96% of the stock is owned by institutional investors and hedge funds.

Waterdrop Company Profile

Waterdrop Inc (NYSE: WDH) is a China-based insurtech and health protection platform that leverages digital technology to connect consumers with insurance and healthcare services. Through its mobile app and online marketplace, Waterdrop offers a range of microinsurance and critical illness products designed to provide affordable coverage for everyday risks. The platform also features crowdfunding channels that enable users to contribute to medical expense relief for individuals facing serious health challenges.

Since its founding in 2016 and headquartered in Shanghai, Waterdrop has grown its partner network to include leading insurance carriers and medical institutions across mainland China.