Waddell & Reed Financial, Inc. (NYSE:WDR) has received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $19.38.
Several research firms have recently weighed in on WDR. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $23.00 price target on shares of Waddell & Reed Financial in a research note on Friday, December 22nd. Zacks Investment Research cut Waddell & Reed Financial from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a report on Saturday. Jefferies Group increased their price objective on Waddell & Reed Financial from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, October 10th. ValuEngine raised Waddell & Reed Financial from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Credit Suisse Group increased their price objective on Waddell & Reed Financial from $18.00 to $19.00 and gave the stock an “underperform” rating in a report on Wednesday, October 25th.
In related news, CAO John E. Sundeen, Jr. sold 45,168 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $22.48, for a total transaction of $1,015,376.64. Following the transaction, the chief accounting officer now directly owns 270,437 shares in the company, valued at approximately $6,079,423.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Wendy J. Hills sold 31,273 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $22.41, for a total value of $700,827.93. Following the transaction, the senior vice president now owns 151,602 shares in the company, valued at $3,397,400.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,619 shares of company stock worth $2,192,613. 3.80% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Waddell & Reed Financial by 73.2% during the second quarter. FMR LLC now owns 4,856,894 shares of the asset manager’s stock valued at $91,698,000 after buying an additional 2,052,378 shares during the last quarter. Vanguard Group Inc. raised its stake in Waddell & Reed Financial by 11.5% during the second quarter. Vanguard Group Inc. now owns 7,596,348 shares of the asset manager’s stock valued at $143,419,000 after buying an additional 781,453 shares during the last quarter. Capital World Investors raised its stake in Waddell & Reed Financial by 64.4% during the second quarter. Capital World Investors now owns 1,850,000 shares of the asset manager’s stock valued at $34,928,000 after buying an additional 725,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Waddell & Reed Financial by 34.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,696,267 shares of the asset manager’s stock valued at $50,907,000 after buying an additional 692,766 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Waddell & Reed Financial by 83.5% during the third quarter. Principal Financial Group Inc. now owns 1,197,096 shares of the asset manager’s stock valued at $24,026,000 after buying an additional 544,817 shares during the last quarter. Institutional investors own 97.43% of the company’s stock.
Waddell & Reed Financial (NYSE WDR) traded up $0.04 during mid-day trading on Monday, hitting $21.86. The stock had a trading volume of 878,500 shares, compared to its average volume of 753,550. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.02 and a quick ratio of 1.14. The company has a market cap of $1,830.00, a P/E ratio of 15.61 and a beta of 2.10. Waddell & Reed Financial has a 12 month low of $16.11 and a 12 month high of $22.88.
Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings results on Tuesday, October 24th. The asset manager reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $289.45 million during the quarter, compared to the consensus estimate of $285.30 million. Waddell & Reed Financial had a return on equity of 16.81% and a net margin of 10.10%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 EPS. analysts predict that Waddell & Reed Financial will post 1.56 EPS for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Wednesday, January 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.57%. Waddell & Reed Financial’s dividend payout ratio is 131.43%.
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Waddell & Reed Financial Company 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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