Waddell & Reed Financial, Inc. to Post FY2017 Earnings of $1.65 Per Share, William Blair Forecasts (NYSE:WDR)

Waddell & Reed Financial, Inc. (NYSE:WDR) – Analysts at William Blair boosted their FY2017 earnings per share (EPS) estimates for Waddell & Reed Financial in a research note issued on Monday, according to Zacks Investment Research. William Blair analyst C. Shutler now forecasts that the asset manager will post earnings of $1.65 per share for the year, up from their prior forecast of $1.59. William Blair also issued estimates for Waddell & Reed Financial’s Q4 2017 earnings at $0.49 EPS, Q1 2018 earnings at $0.52 EPS and FY2019 earnings at $2.09 EPS.

WDR has been the subject of a number of other reports. Zacks Investment Research downgraded Waddell & Reed Financial from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a report on Saturday, January 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $23.00 price target on shares of Waddell & Reed Financial in a report on Friday, December 22nd. Royal Bank of Canada reiterated a “sell” rating and set a $20.00 price target on shares of Waddell & Reed Financial in a report on Wednesday, January 31st. Jefferies Group reiterated a “hold” rating and set a $23.00 price target on shares of Waddell & Reed Financial in a report on Thursday, January 11th. Finally, Credit Suisse Group increased their price target on Waddell & Reed Financial from $18.00 to $19.00 and gave the stock an “underperform” rating in a report on Wednesday, October 25th. Six investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Waddell & Reed Financial presently has an average rating of “Hold” and an average price target of $21.33.

Shares of Waddell & Reed Financial (NYSE:WDR) traded up $0.42 during trading on Tuesday, reaching $20.82. The company’s stock had a trading volume of 1,836,934 shares, compared to its average volume of 1,212,888. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.14 and a current ratio of 3.02. Waddell & Reed Financial has a 52-week low of $16.11 and a 52-week high of $23.82. The firm has a market cap of $1,696.18, a P/E ratio of 14.07 and a beta of 2.00.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings data on Tuesday, January 30th. The asset manager reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. Waddell & Reed Financial had a return on equity of 16.72% and a net margin of 10.72%. The business had revenue of $294.48 million during the quarter, compared to the consensus estimate of $286.55 million. During the same period in the prior year, the business posted $0.43 earnings per share. Waddell & Reed Financial’s quarterly revenue was up .5% on a year-over-year basis.

In related news, CAO John E. Sundeen, Jr. sold 45,168 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $22.48, for a total value of $1,015,376.64. Following the transaction, the chief accounting officer now 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 SEC, which is available through this hyperlink. Also, SVP Wendy J. Hills sold 31,273 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $22.41, for a total transaction of $700,827.93. Following the completion of the transaction, the senior vice president now directly owns 151,602 shares in the company, valued at approximately $3,397,400.82. The disclosure for this sale can be found here. Insiders have sold a total of 101,411 shares of company stock worth $2,229,239 in the last three months. Insiders own 3.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Eaton Vance Management lifted its position in Waddell & Reed Financial by 0.9% in the 2nd quarter. Eaton Vance Management now owns 16,538 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 149 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Waddell & Reed Financial by 3.9% during the 2nd quarter. Franklin Resources Inc. now owns 12,607 shares of the asset manager’s stock worth $238,000 after buying an additional 477 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Waddell & Reed Financial by 1.4% during the 2nd quarter. Wells Fargo & Company MN now owns 130,072 shares of the asset manager’s stock worth $2,456,000 after buying an additional 1,735 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Waddell & Reed Financial by 1.4% during the 2nd quarter. Teachers Advisors LLC now owns 150,524 shares of the asset manager’s stock worth $2,842,000 after buying an additional 2,120 shares in the last quarter. Finally, Bancorpsouth Inc. lifted its position in shares of Waddell & Reed Financial by 4.7% during the 2nd quarter. Bancorpsouth Inc. now owns 47,630 shares of the asset manager’s stock worth $899,000 after buying an additional 2,153 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Waddell & Reed Financial (NYSE:WDR)

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