On September 14, 2023, ProShare Advisors LLC announced a reduction in its stake in John Wiley & Sons, Inc. (NYSE:WLY) by 5.9% during the first quarter, according to their recent disclosure with the Securities and Exchange Commission (SEC). The fund sold 61,054 shares, resulting in ownership of 979,672 shares of the company’s stock. This represented approximately 1.77% of John Wiley & Sons’ total worth, which amounted to $37,982,000 as of the most recent SEC filing.
John Wiley & Sons recently released its quarterly earnings data on Thursday, June 15th. The company reported earnings per share of $1.45 for the quarter, surpassing the consensus estimate of $0.99 by a significant margin of $0.46. Despite reporting a negative net margin of 2.88%, John Wiley & Sons achieved a positive return on equity of 20.65%. The company generated revenue amounting to $526.13 million for the quarter, compared to $1.08 EPS in the same period last year. Sell-side analysts predict that John Wiley & Sons, Inc. will have earnings per share of approximately 2.23 for the current year.
John Wiley & Sons operates as a global research and education organization spanning multiple sectors worldwide. Their business is divided into three segments: Research, Academic, and Talent. Within these divisions, they provide scientific, technical, medical and scholarly journals along with related content and services to various stakeholders such as learned societies, individual researchers, professionals, academic institutions, corporate entities and government libraries.
As a leading player in the field of research and education services across diverse industries globally since its inception in [insert date], John Wiley & Sons has consistently evolved to meet the changing needs and demands of knowledge dissemination in an ever-evolving world economy.
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Major Investment Firms Demonstrate Confidence in John Wiley & Sons with Significant Changes to Holdings
On September 14, 2023, it was reported that several hedge funds and institutional investors have made significant changes to their holdings of John Wiley & Sons (WLY). Notably, BlackRock Inc. purchased a new stake in the company during the third quarter, amounting to $187,724,000. Vanguard Group Inc. and State Street Corp also acquired new stakes in John Wiley & Sons during the same period, with investments worth $175,812,000 and $174,063,000 respectively. Furthermore, Norges Bank invested $7,515,000 in shares of the company during the fourth quarter. These recent actions from major investment firms demonstrate confidence in John Wiley & Sons’ potential for growth and profitability.
Additionally, JPMorgan Chase & Co. increased its stake in John Wiley & Sons by 36% during the first quarter. The financial institution now possesses 455,696 shares of the company’s stock valued at $17,667,000 after acquiring an additional 120,605 shares. This suggests that JPMorgan Chase & Co. sees potential value in maintaining a position within the company. Overall, institutional investors collectively hold approximately 84.57% of John Wiley & Sons’ stock.
As of Thursday’s market opening on September 14th , shares of John Wiley & Sons were priced at $35.47 each. The company currently holds a quick ratio of 0.57 and a current ratio of 0.68 – both indicators of its liquidity level as compared to its short-term obligations. Furthermore, John Wiley & Sons has a debt-to-equity ratio of 0.95 which highlights its utilization of borrowed capital to finance assets and initiatives.
Over the past twelve months as reflected by its price range between $30.05 and $49.58 per share; it is evident that John Wiley & Sons has experienced price volatility within this period but failed to reach its previous peak. With a market capitalization of $1.96 billion, the company’s stock exhibits a price-to-earnings ratio of -33.46 and a beta of 0.97.
John Wiley & Sons, Inc. operates internationally as a research and education company with a focus on three primary segments: Research, Academic, and Talent. Its offerings include scientific, technical, medical, and scholarly journals, as well as related content and services catered to various stakeholders such as learned societies, individual researchers, professionals, academic institutions, corporate entities, and government libraries worldwide.
Notably, John Wiley & Sons recently declared its quarterly dividend which was paid on Thursday, July 20th. Shareholders who were recorded on Thursday July 6th received a dividend payment of $0.35 per share. The ex-dividend date for this dividend was Wednesday, July 5th. This represents an increase from the company’s previous quarterly dividend of the same amount ($0.35). Currently standing at $1.40 per share on an annualized basis; this new dividend reflects a yield of 3.95%. In light of this increased payment to shareholders, John Wiley & Sons’ dividend payout ratio now stands at -132.08%.
In other news concerning the company’s insiders’ activities; David C. Dobson, who serves as a Director at John Wiley & Sons made headlines after purchasing 3,000 shares of the company’s stock on Monday June 26th in a transaction valued at approximately $94,980 ($31.66 per share). Following this acquisition; Dobson now holds 7,952 shares of the company’s stock which amounts to approximately $251,760.
It is essential to note that these insider transactions are disclosed publicly through filings with the Securities and Exchange Commission (SEC), ensuring transparency for investors interested in understanding significant developments related to companies they have invested in or plan to invest in. As of now, insiders hold 0.79% of John Wiley & Sons’ stock.
These recent updates and activities within the financial market highlight keen investor interest in John Wiley & Sons. With hedge funds and institutional investors adjusting their holdings and prominent figures within the company making notable purchases, it suggests positive sentiment towards its future prospects within the research and education industry. Investors should continually monitor such developments to gauge the potential impact on John Wiley & Sons’ stock price and overall performance in the market.
