BidaskClub upgraded shares of Waddell & Reed Financial, Inc. (NYSE:WDR) from a buy rating to a strong-buy rating in a research report report published on Wednesday, July 12th.
WDR has been the subject of several other research reports. Jefferies Group LLC restated a hold rating and issued a $18.00 price target on shares of Waddell & Reed Financial in a research note on Wednesday, June 28th. ValuEngine upgraded shares of Waddell & Reed Financial from a hold rating to a buy rating in a research note on Tuesday, June 20th. Morgan Stanley reiterated an underweight rating and set a $15.00 target price (up previously from $14.00) on shares of Waddell & Reed Financial in a research note on Monday, July 10th. Royal Bank Of Canada assumed coverage on shares of Waddell & Reed Financial in a research note on Thursday, June 29th. They set an underperform rating and a $17.00 target price for the company. Finally, Keefe, Bruyette & Woods reiterated a sell rating and set a $16.50 target price on shares of Waddell & Reed Financial in a research note on Friday, June 9th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $17.81.
Shares of Waddell & Reed Financial (NYSE WDR) traded down 1.46% during mid-day trading on Wednesday, reaching $19.64. The company’s stock had a trading volume of 872,957 shares. The stock has a 50 day moving average of $19.84 and a 200-day moving average of $18.20. The stock has a market cap of $1.64 billion, a P/E ratio of 12.34 and a beta of 2.04. Waddell & Reed Financial has a one year low of $15.02 and a one year 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 the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $286.70 million during the quarter, compared to the consensus estimate of $285.25 million. Waddell & Reed Financial had a net margin of 11.34% and a return on equity of 18.74%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, equities research analysts expect that Waddell & Reed Financial will post $1.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 11th were given a $0.46 dividend. The ex-dividend date was Friday, July 7th. This represents a $1.84 dividend on an annualized basis and a yield of 9.37%. Waddell & Reed Financial’s dividend payout ratio (DPR) is presently 115.72%.
In related 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 value of $486,474.40. Following the completion of the sale, the director now directly owns 71,873 shares of the company’s stock, valued at $1,394,336.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in WDR. Comerica Bank boosted its stake in shares of Waddell & Reed Financial by 6.1% in the fourth quarter. Comerica Bank now owns 61,211 shares of the asset manager’s stock worth $1,156,000 after buying an additional 3,504 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Waddell & Reed Financial by 14.7% in the first quarter. Ameriprise Financial Inc. now owns 279,395 shares of the asset manager’s stock worth $4,750,000 after buying an additional 35,876 shares during the period. Norges Bank bought a new stake in shares of Waddell & Reed Financial during the fourth quarter worth $15,478,000. Guggenheim Capital LLC boosted its stake in shares of Waddell & Reed Financial by 96.8% in the fourth quarter. Guggenheim Capital LLC now owns 111,229 shares of the asset manager’s stock worth $2,169,000 after buying an additional 54,723 shares during the period. Finally, FMR LLC boosted its stake in shares of Waddell & Reed Financial by 144.6% in the fourth quarter. FMR LLC now owns 2,899,094 shares of the asset manager’s stock worth $56,561,000 after buying an additional 1,714,078 shares during the period. 93.99% of the stock is owned by hedge funds and other institutional investors.
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.
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