Bank of America lowered shares of Waddell & Reed Financial (NYSE:WDR) from a neutral rating to an underperform rating in a research report report published on Friday morning, BenzingaRatingsTable reports. The brokerage currently has $17.00 price objective on the asset manager’s stock.
A number of other brokerages also recently issued reports on WDR. Citigroup set a $15.00 target price on Waddell & Reed Financial and gave the stock a sell rating in a research note on Wednesday, July 31st. Evercore ISI set a $17.00 target price on Waddell & Reed Financial and gave the stock a hold rating in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Waddell & Reed Financial has an average rating of Hold and a consensus target price of $16.86.
Shares of WDR stock opened at $17.75 on Friday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 7.79, a price-to-earnings-growth ratio of 4.30 and a beta of 1.44. The stock has a 50 day simple moving average of $16.46 and a 200-day simple moving average of $17.16. Waddell & Reed Financial has a 12-month low of $15.09 and a 12-month high of $21.63. The company has a current ratio of 3.78, a quick ratio of 1.20 and a debt-to-equity ratio of 0.11.
Waddell & Reed Financial (NYSE:WDR) last issued its earnings results on Tuesday, July 30th. The asset manager reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $270.20 million during the quarter, compared to the consensus estimate of $267.48 million. Waddell & Reed Financial had a return on equity of 17.88% and a net margin of 14.48%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. On average, equities analysts forecast that Waddell & Reed Financial will post 1.68 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors Inc. increased its stake in Waddell & Reed Financial by 3.0% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 19,193 shares of the asset manager’s stock valued at $332,000 after purchasing an additional 565 shares in the last quarter. Texas Permanent School Fund increased its stake in Waddell & Reed Financial by 1.1% in the 1st quarter. Texas Permanent School Fund now owns 51,828 shares of the asset manager’s stock valued at $896,000 after purchasing an additional 577 shares in the last quarter. Comerica Bank increased its stake in Waddell & Reed Financial by 0.9% in the 1st quarter. Comerica Bank now owns 86,560 shares of the asset manager’s stock valued at $1,560,000 after purchasing an additional 812 shares in the last quarter. Factorial Partners LLC increased its stake in Waddell & Reed Financial by 2.0% in the 2nd quarter. Factorial Partners LLC now owns 51,000 shares of the asset manager’s stock valued at $850,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Waddell & Reed Financial in the 1st quarter valued at approximately $26,000.
Waddell & Reed Financial Company 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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