State Street Corp increased its stake in Waddell & Reed Financial Inc. (NYSE:WDR) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,405,533 shares of the company’s stock after buying an additional 99,456 shares during the period. State Street Corp owned 2.90% of Waddell & Reed Financial worth $56,628,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of WDR. Allegis Investment Advisors LLC raised its position in Waddell & Reed Financial by 106.3% in the first quarter. Allegis Investment Advisors LLC now owns 10,421 shares of the company’s stock valued at $245,000 after buying an additional 5,369 shares during the period. Canada Pension Plan Investment Board raised its position in Waddell & Reed Financial by 24.2% in the first quarter. Canada Pension Plan Investment Board now owns 11,300 shares of the company’s stock valued at $266,000 after buying an additional 2,200 shares during the period. Fox Run Management L.L.C. acquired a new position in Waddell & Reed Financial during the first quarter valued at approximately $346,000. Franklin Resources Inc. acquired a new position in Waddell & Reed Financial during the first quarter valued at approximately $359,000. Finally, Bancorpsouth Inc. acquired a new position in Waddell & Reed Financial during the first quarter valued at approximately $866,000.
Waddell & Reed Financial Inc. (NYSE:WDR) traded down 1.55% during mid-day trading on Tuesday, hitting $18.36. 2,253,430 shares of the company were exchanged. Waddell & Reed Financial Inc. has a 12-month low of $15.70 and a 12-month high of $45.75. The stock has a market cap of $1.50 billion and a P/E ratio of 7.09. The company has a 50 day moving average of $18.16 and a 200 day moving average of $21.58.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Monday, July 11th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 10.02%. The ex-dividend date of this dividend is Thursday, July 7th.
Several brokerages recently weighed in on WDR. Zacks Investment Research upgraded shares of Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Royal Bank Of Canada cut their price objective on shares of Waddell & Reed Financial from $37.00 to $32.00 and set an “outperform” rating on the stock in a research report on Monday, April 18th. Sandler O’Neill cut their price objective on shares of Waddell & Reed Financial from $24.00 to $23.00 in a research report on Tuesday, April 12th. Morgan Stanley reiterated a “sell” rating on shares of Waddell & Reed Financial in a research report on Wednesday, April 27th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and issued a $25.00 price objective (down from $28.00) on shares of Waddell & Reed Financial in a research report on Thursday, April 28th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Waddell & Reed Financial presently has a consensus rating of “Hold” and an average price target of $25.50.
Waddell & Reed Financial, Inc is a mutual fund and asset management company. The Company provides investment management, investment advisory, investment product underwriting and distribution and shareholder services administration to Waddell & Reed Advisors group of mutual funds, Ivy Funds, Ivy Funds Variable Insurance Portfolios, InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.
