Bank of Montreal Can grew its stake in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 7,083.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 171,398 shares of the asset manager’s stock after purchasing an additional 169,012 shares during the quarter. Bank of Montreal Can owned approximately 0.21% of Waddell & Reed Financial worth $3,630,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Guggenheim Capital LLC lifted its stake in Waddell & Reed Financial by 4.0% in the first quarter. Guggenheim Capital LLC now owns 143,714 shares of the asset manager’s stock worth $2,904,000 after acquiring an additional 5,504 shares during the period. Royal Bank of Canada lifted its stake in Waddell & Reed Financial by 53.2% in the first quarter. Royal Bank of Canada now owns 43,464 shares of the asset manager’s stock worth $879,000 after acquiring an additional 15,090 shares during the period. Xact Kapitalforvaltning AB lifted its stake in Waddell & Reed Financial by 49.8% in the first quarter. Xact Kapitalforvaltning AB now owns 15,032 shares of the asset manager’s stock worth $304,000 after acquiring an additional 5,000 shares during the period. CIBC World Markets Inc. purchased a new stake in Waddell & Reed Financial in the first quarter worth $326,000. Finally, Principal Financial Group Inc. lifted its stake in Waddell & Reed Financial by 2.4% in the first quarter. Principal Financial Group Inc. now owns 653,366 shares of the asset manager’s stock worth $13,205,000 after acquiring an additional 15,363 shares during the period. 97.98% of the stock is owned by hedge funds and other institutional investors.
In other Waddell & Reed Financial news, Director Alan W. Kosloff sold 19,614 shares of the firm’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 transaction, the director now owns 22,184 shares of the company’s stock, valued at $452,997.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.40% of the company’s stock.
Shares of Waddell & Reed Financial stock opened at $19.17 on Monday. The company has a quick ratio of 1.75, a current ratio of 3.99 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.11 and a beta of 1.64. Waddell & Reed Financial, Inc. has a 12 month low of $17.53 and a 12 month high of $23.82.
Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings data on Tuesday, October 30th. The asset manager reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. The business had revenue of $295.10 million during the quarter, compared to analyst estimates of $293.63 million. Waddell & Reed Financial had a return on equity of 20.17% and a net margin of 14.11%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. Sell-side analysts anticipate that Waddell & Reed Financial, Inc. will post 2.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Thursday, October 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.22%. The ex-dividend date was Wednesday, October 10th. Waddell & Reed Financial’s dividend payout ratio is currently 52.08%.
A number of analysts recently commented on WDR shares. Zacks Investment Research lowered Waddell & Reed Financial from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 price target on shares of Waddell & Reed Financial in a research note on Wednesday, August 1st. ValuEngine raised Waddell & Reed Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 8th. Credit Suisse Group dropped their price target on Waddell & Reed Financial from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada set a $17.00 price target on Waddell & Reed Financial and gave the stock a “sell” rating in a research note on Wednesday, October 31st. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus price target of $20.38.
Waddell & Reed Financial Profile
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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