Waddell & Reed (NYSE:WDR) declared a quarterly dividend on Tuesday, March 20th, RTT News reports. Shareholders of record on Tuesday, April 10th will be paid a dividend of 0.25 per share by the asset manager on Tuesday, May 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Monday, April 9th.
Waddell & Reed has increased its dividend payment by an average of 10.6% annually over the last three years. Waddell & Reed has a dividend payout ratio of 64.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Waddell & Reed to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.2%.
Shares of WDR opened at $19.30 on Friday. The firm has a market capitalization of $1,608.89, a price-to-earnings ratio of 11.29 and a beta of 1.95. Waddell & Reed has a fifty-two week low of $16.32 and a fifty-two week high of $23.82. The company has a current ratio of 3.09, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.
Waddell & Reed (NYSE:WDR) last announced its quarterly earnings results 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. The company had revenue of $294.48 million for the quarter, compared to analyst estimates of $286.55 million. Waddell & Reed had a net margin of 10.72% and a return on equity of 16.63%. Waddell & Reed’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.43 EPS. sell-side analysts forecast that Waddell & Reed will post 2.24 earnings per share for the current fiscal year.
A number of brokerages have weighed in on WDR. Morgan Stanley lifted their price target on shares of Waddell & Reed from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Tuesday, February 13th. Royal Bank of Canada reiterated a “sell” rating and issued a $20.00 price target on shares of Waddell & Reed in a report on Wednesday, January 31st. Citigroup raised shares of Waddell & Reed from a “sell” rating to a “neutral” rating and set a $24.00 target price on the stock in a research note on Wednesday, January 31st. Bank of America set a $20.00 target price on shares of Waddell & Reed and gave the company a “sell” rating in a research note on Tuesday, January 30th. Finally, Jefferies Group reissued a “hold” rating and issued a $23.00 target price on shares of Waddell & Reed in a research note on Thursday, January 11th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Waddell & Reed currently has an average rating of “Hold” and an average price target of $21.75.
In other news, Director Jerry W. Walton sold 5,792 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.95, for a total value of $132,926.40. Following the transaction, the director now owns 81,332 shares of the company’s stock, valued at approximately $1,866,569.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.40% of the company’s stock.
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About Waddell & Reed
Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.
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