TIAA CREF Investment Management LLC Decreases Stake in Waddell & Reed Financial, Inc. (WDR)

TIAA CREF Investment Management LLC lowered its stake in Waddell & Reed Financial, Inc. (NYSE:WDR) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,901 shares of the asset manager’s stock after selling 1,283 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.33% of Waddell & Reed Financial worth $4,673,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WDR. Comerica Bank raised its stake in Waddell & Reed Financial by 6.1% in the fourth quarter. Comerica Bank now owns 61,211 shares of the asset manager’s stock valued at $1,156,000 after buying an additional 3,504 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Waddell & Reed Financial by 14.7% in the first quarter. Ameriprise Financial Inc. now owns 279,395 shares of the asset manager’s stock valued at $4,750,000 after buying an additional 35,876 shares in the last quarter. Norges Bank acquired a new stake in Waddell & Reed Financial during the fourth quarter valued at about $15,478,000. Guggenheim Capital LLC raised its stake in Waddell & Reed Financial by 96.8% in the fourth quarter. Guggenheim Capital LLC now owns 111,229 shares of the asset manager’s stock valued at $2,169,000 after buying an additional 54,723 shares in the last quarter. Finally, Donald L. Hagan LLC raised its stake in Waddell & Reed Financial by 1.4% in the first quarter. Donald L. Hagan LLC now owns 41,588 shares of the asset manager’s stock valued at $707,000 after buying an additional 582 shares in the last quarter. Institutional investors and hedge funds own 93.87% of the company’s stock.

Shares of Waddell & Reed Financial, Inc. (WDR) traded down 1.65% during trading on Wednesday, hitting $18.51. The stock had a trading volume of 521,031 shares. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 11.63 and a beta of 2.04. The company’s 50 day moving average price is $19.85 and its 200 day moving average price is $18.23. Waddell & Reed Financial, Inc. has a 52 week low of $15.02 and a 52 week high of $22.45.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $285.25 million. Waddell & Reed Financial had a net margin of 11.34% and a return on equity of 18.75%. Waddell & Reed Financial’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. Analysts predict that Waddell & Reed Financial, Inc. will post $1.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 11th were issued a dividend of $0.46 per share. The ex-dividend date was Friday, July 7th. This represents a $1.84 dividend on an annualized basis and a yield of 9.94%. Waddell & Reed Financial’s payout ratio is 115.72%.

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Several analysts have issued reports on WDR shares. ValuEngine upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. BidaskClub upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $20.00 price objective on shares of Waddell & Reed Financial in a research note on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and issued a $19.00 price objective (down previously from $20.00) on shares of Waddell & Reed Financial in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada set a $18.00 price objective on Waddell & Reed Financial and gave the company a “sell” rating in a research note on Wednesday, August 2nd. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Waddell & Reed Financial has an average rating of “Hold” and a consensus target price of $18.06.

In other Waddell & Reed Financial news, Director Alan W. Kosloff sold 25,076 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $19.40, for a total transaction of $486,474.40. Following the sale, the director now owns 71,873 shares of the company’s stock, valued at approximately $1,394,336.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Benjamin R. Clouse sold 5,903 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $20.01, for a total transaction of $118,119.03. Following the sale, the vice president now directly owns 25,845 shares in the company, valued at approximately $517,158.45. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

About Waddell & Reed Financial

Waddell & Reed Financial, Inc, incorporated on December 24, 1981, is a holding company. The Company 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 (the Advisors Funds), Ivy Funds, Ivy Funds Variable Insurance Portfolios (Ivy Funds VIP), InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV (the SICAV) and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.

Institutional Ownership by Quarter for Waddell & Reed Financial (NYSE:WDR)

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