California State Teachers Retirement System Has $2.74 Million Holdings in Waddell & Reed Financial, Inc. (WDR)

California State Teachers Retirement System decreased its holdings in Waddell & Reed Financial, Inc. (NYSE:WDR) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,611 shares of the asset manager’s stock after selling 7,405 shares during the quarter. California State Teachers Retirement System owned 0.16% of Waddell & Reed Financial worth $2,742,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in Waddell & Reed Financial by 9.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,945,385 shares of the asset manager’s stock worth $59,113,000 after purchasing an additional 249,118 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Waddell & Reed Financial by 12.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 615,338 shares of the asset manager’s stock worth $12,350,000 after purchasing an additional 68,080 shares in the last quarter. Wells Fargo & Company MN raised its stake in Waddell & Reed Financial by 43.3% in the 3rd quarter. Wells Fargo & Company MN now owns 186,379 shares of the asset manager’s stock worth $3,742,000 after purchasing an additional 56,307 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Waddell & Reed Financial by 17.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,639 shares of the asset manager’s stock worth $4,926,000 after purchasing an additional 36,927 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in Waddell & Reed Financial in the 3rd quarter worth about $963,000. Institutional investors and hedge funds own 97.43% of the company’s stock.

WDR has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Thursday, October 5th. ValuEngine raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Jefferies Group raised their target price on shares of Waddell & Reed Financial from $19.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $23.00 target price on shares of Waddell & Reed Financial in a report on Friday, December 22nd. Finally, Royal Bank of Canada set a $18.00 target price on shares of Waddell & Reed Financial and gave the company a “sell” rating in a report on Wednesday, October 18th. Six investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Waddell & Reed Financial currently has a consensus rating of “Hold” and a consensus target price of $19.75.

Shares of Waddell & Reed Financial, Inc. (WDR) opened at $23.08 on Friday. The stock has a market cap of $1,920.00, a P/E ratio of 16.49 and a beta of 2.10. The company has a current ratio of 3.02, a quick ratio of 1.14 and a debt-to-equity ratio of 0.11. Waddell & Reed Financial, Inc. has a 1-year low of $16.11 and a 1-year high of $23.13.

Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings results on Tuesday, October 24th. The asset manager reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $289.45 million for the quarter, compared to analyst estimates of $285.30 million. Waddell & Reed Financial had a net margin of 10.10% and a return on equity of 16.81%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. research analysts anticipate that Waddell & Reed Financial, Inc. will post 1.56 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Thursday, January 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Wednesday, January 10th. Waddell & Reed Financial’s dividend payout ratio (DPR) is presently 71.43%.

In related news, CAO John E. Sundeen, Jr. sold 45,168 shares of Waddell & Reed Financial stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $22.48, for a total transaction of $1,015,376.64. Following the sale, the chief accounting officer now directly owns 270,437 shares of the company’s stock, valued at approximately $6,079,423.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan W. Kosloff sold 19,178 shares of Waddell & Reed Financial stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $19.82, for a total transaction of $380,107.96. Following the sale, the director now directly owns 52,695 shares in the company, valued at $1,044,414.90. The disclosure for this sale can be found here. Insiders have sold a total of 100,619 shares of company stock worth $2,192,613 over the last ninety days. 3.80% of the stock is currently owned by insiders.

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Waddell & Reed Financial Profile

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

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