Waddell & Reed Financial (NYSE:WDR) Sees Unusually-High Trading Volume


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Shares of Waddell & Reed Financial, Inc. (NYSE:WDR) saw unusually-high trading volume on Tuesday . Approximately 28,815 shares changed hands during trading, a decline of 96% from the previous session’s volume of 781,650 shares.The stock last traded at $25.18 and had previously closed at $25.17.

Separately, Zacks Investment Research lowered shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research report on Wednesday, March 31st. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.40.

The company has a market capitalization of $1.57 billion, a P/E ratio of 18.12 and a beta of 1.44. The firm’s 50-day moving average is $25.10 and its 200-day moving average is $21.84.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings results on Monday, February 1st. The asset manager reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.05). The firm had revenue of $278.10 million during the quarter, compared to the consensus estimate of $267.05 million. Waddell & Reed Financial had a return on equity of 14.57% and a net margin of 9.17%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 earnings per share. Sell-side analysts expect that Waddell & Reed Financial, Inc. will post 1.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Friday, April 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.97%. Waddell & Reed Financial’s payout ratio is currently 53.19%.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Alpine Associates Management Inc. bought a new position in shares of Waddell & Reed Financial in the fourth quarter worth approximately $39,932,000. Morgan Stanley boosted its position in shares of Waddell & Reed Financial by 363.5% in the fourth quarter. Morgan Stanley now owns 943,222 shares of the asset manager’s stock worth $24,024,000 after purchasing an additional 739,727 shares during the period. Norges Bank bought a new position in shares of Waddell & Reed Financial in the fourth quarter worth approximately $22,168,000. Barclays PLC boosted its position in shares of Waddell & Reed Financial by 731.5% in the fourth quarter. Barclays PLC now owns 746,323 shares of the asset manager’s stock worth $19,008,000 after purchasing an additional 656,563 shares during the period. Finally, SummerHaven Investment Management LLC bought a new position in shares of Waddell & Reed Financial in the fourth quarter worth approximately $673,000.

Waddell & Reed Financial Company Profile (NYSE:WDR)

Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.

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