Citigroup set a $20.00 price target on Waddell & Reed Financial (NYSE:WDR) in a research note issued to investors on Wednesday. The brokerage currently has a hold rating on the asset manager’s stock.
Several other equities research analysts also recently issued reports on WDR. Keefe, Bruyette & Woods reiterated a hold rating and set a $23.00 price target on shares of Waddell & Reed Financial in a report on Wednesday, August 1st. Zacks Investment Research upgraded Waddell & Reed Financial from a hold rating to a buy rating and set a $23.00 price target for the company in a report on Friday, August 3rd. Finally, ValuEngine upgraded Waddell & Reed Financial from a strong sell rating to a sell rating in a report on Wednesday, August 8th. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Waddell & Reed Financial presently has an average rating of Sell and a consensus target price of $20.38.
Shares of NYSE:WDR traded down $0.02 during trading on Wednesday, reaching $19.17. 1,111,823 shares of the stock were exchanged, compared to its average volume of 1,314,837. The company has a quick ratio of 1.75, a current ratio of 3.99 and a debt-to-equity ratio of 0.11. Waddell & Reed Financial has a 1-year low of $17.53 and a 1-year high of $23.82. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.85 and a beta of 1.63.
Waddell & Reed Financial (NYSE:WDR) last issued its earnings results on Tuesday, October 30th. The asset manager reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Waddell & Reed Financial had a return on equity of 20.17% and a net margin of 14.11%. The company had revenue of $295.10 million for the quarter, compared to analyst estimates of $293.63 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Waddell & Reed Financial’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts anticipate that Waddell & Reed Financial will post 2.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Thursday, October 11th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, October 10th. This represents a $1.00 annualized dividend and a yield of 5.22%. Waddell & Reed Financial’s dividend payout ratio (DPR) is currently 52.08%.
In related news, Director Alan W. Kosloff sold 19,614 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $20.42, for a total transaction of $400,517.88. Following the completion of the sale, the director now owns 22,184 shares in the company, valued at $452,997.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.40% of the company’s stock.
A number of large investors have recently made changes to their positions in WDR. BlackRock Inc. grew its stake in Waddell & Reed Financial by 17.2% in the 2nd quarter. BlackRock Inc. now owns 11,686,346 shares of the asset manager’s stock valued at $210,001,000 after purchasing an additional 1,714,970 shares during the period. Wells Fargo & Company MN grew its stake in Waddell & Reed Financial by 255.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,135,212 shares of the asset manager’s stock valued at $24,043,000 after purchasing an additional 815,669 shares during the period. Millennium Management LLC grew its stake in Waddell & Reed Financial by 813.1% in the 1st quarter. Millennium Management LLC now owns 709,347 shares of the asset manager’s stock valued at $14,336,000 after purchasing an additional 631,665 shares during the period. WBI Investments Inc. bought a new position in Waddell & Reed Financial in the 3rd quarter valued at $9,419,000. Finally, FMR LLC grew its stake in Waddell & Reed Financial by 10.0% in the 2nd quarter. FMR LLC now owns 4,691,739 shares of the asset manager’s stock valued at $84,311,000 after purchasing an additional 424,816 shares during the period. Hedge funds and other institutional investors own 97.98% of the company’s stock.
About Waddell & Reed Financial
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.
Read More: What is a stock buyback?
Receive News & Ratings for Waddell & Reed Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waddell & Reed Financial and related companies with MarketBeat.com's FREE daily email newsletter.