Waddell & Reed Financial, Inc. (NYSE:WDR) has earned a consensus rating of “Sell” from the nine analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.00.
Several research firms have recently issued reports on WDR. Zacks Investment Research raised Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, October 16th. Citigroup set a $20.00 price target on Waddell & Reed Financial and gave the stock a “hold” rating in a research note on Wednesday, October 31st. 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. Credit Suisse Group decreased 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, ValuEngine raised Waddell & Reed Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 8th.
Shares of WDR opened at $19.56 on Friday. Waddell & Reed Financial has a 12 month low of $17.53 and a 12 month high of $23.82. The firm has a market cap of $1.53 billion, a P/E ratio of 10.19, a P/E/G ratio of 1.11 and a beta of 1.64. 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 (NYSE:WDR) last released its quarterly earnings results on Tuesday, October 30th. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $293.63 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that Waddell & Reed Financial will post 2.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Thursday, October 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, October 10th. This represents a $1.00 annualized dividend and a dividend yield of 5.11%. Waddell & Reed Financial’s payout ratio is 52.08%.
In other 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 value 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 legal filing with the SEC, which is available at this link. Corporate insiders own 3.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Laurion Capital Management LP acquired a new stake in shares of Waddell & Reed Financial in the second quarter valued at $191,000. Private Advisor Group LLC acquired a new stake in shares of Waddell & Reed Financial in the third quarter valued at $233,000. Neuburgh Advisers LLC lifted its holdings in shares of Waddell & Reed Financial by 34.2% in the second quarter. Neuburgh Advisers LLC now owns 11,044 shares of the asset manager’s stock valued at $198,000 after buying an additional 2,816 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Waddell & Reed Financial by 34.0% in the second quarter. Riverhead Capital Management LLC now owns 12,621 shares of the asset manager’s stock valued at $227,000 after buying an additional 3,200 shares during the period. Finally, Tyers Asset Management LLC lifted its holdings in shares of Waddell & Reed Financial by 34.2% in the second quarter. Tyers Asset Management LLC now owns 14,056 shares of the asset manager’s stock valued at $253,000 after buying an additional 3,584 shares during the period. Institutional investors and hedge funds own 98.20% 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.
Featured Story: Bear Market – How and Why They Occur
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.