Shares of Waddell & Reed Financial, Inc. (NYSE:WDR) have been assigned an average recommendation of “Sell” from the nine analysts that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.29.
Several brokerages recently commented on WDR. ValuEngine raised shares of Waddell & Reed Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $23.00 target price on shares of Waddell & Reed Financial in a report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Finally, Citigroup reduced their target price on shares of Waddell & Reed Financial from $19.50 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, May 2nd.
Shares of WDR stock traded up $0.33 during midday trading on Tuesday, hitting $21.05. 1,006,700 shares of the company were exchanged, compared to its average volume of 1,081,294. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 1.25 and a beta of 1.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.75 and a current ratio of 3.99. Waddell & Reed Financial has a 52 week low of $17.53 and a 52 week high of $23.82.
Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, July 31st. The asset manager reported $0.55 EPS for the quarter, topping the consensus estimate of $0.48 by $0.07. The business had revenue of $295.34 million during the quarter, compared to the consensus estimate of $288.92 million. Waddell & Reed Financial had a net margin of 13.47% and a return on equity of 19.29%. Waddell & Reed Financial’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. sell-side analysts forecast that Waddell & Reed Financial will post 2.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Wednesday, July 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Tuesday, July 10th. Waddell & Reed Financial’s dividend payout ratio is currently 52.08%.
In other Waddell & Reed Financial news, Director James M. Raines sold 2,640 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $19.93, for a total value of $52,615.20. Following the completion of the sale, the director now owns 24,826 shares of the company’s stock, valued at approximately $494,782.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of WDR. Stratos Wealth Partners LTD. boosted its holdings in Waddell & Reed Financial by 298.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 8,816 shares of the asset manager’s stock valued at $178,000 after purchasing an additional 6,601 shares during the period. Laurion Capital Management LP bought a new stake in Waddell & Reed Financial in the 2nd quarter valued at about $191,000. Neuburgh Advisers LLC boosted its holdings in Waddell & Reed Financial by 34.2% in the 2nd quarter. Neuburgh Advisers LLC now owns 11,044 shares of the asset manager’s stock valued at $198,000 after purchasing an additional 2,816 shares during the period. Riverhead Capital Management LLC boosted its holdings in Waddell & Reed Financial by 34.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 12,621 shares of the asset manager’s stock valued at $227,000 after purchasing an additional 3,200 shares during the period. Finally, Tyers Asset Management LLC raised its position in shares of Waddell & Reed Financial by 34.2% in the 2nd 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 in the last quarter. 98.81% of the stock is owned by hedge funds and other institutional investors.
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.
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