Commonwealth of Pennsylvania Public School Empls Retrmt SYS Invests $312,000 in Waddell & Reed Financial, Inc. (WDR)

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Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,353 shares of the asset manager’s stock, valued at approximately $312,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Waddell & Reed Financial by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,091,246 shares of the asset manager’s stock worth $62,474,000 after acquiring an additional 42,166 shares during the last quarter. Van Berkom & Associates Inc. raised its position in shares of Waddell & Reed Financial by 3.9% during the first quarter. Van Berkom & Associates Inc. now owns 2,430,950 shares of the asset manager’s stock worth $49,129,000 after acquiring an additional 90,370 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Waddell & Reed Financial by 1.3% during the first quarter. Gabelli Funds LLC now owns 1,466,000 shares of the asset manager’s stock worth $29,628,000 after acquiring an additional 19,000 shares during the last quarter. Foresters Investment Management Company Inc. raised its position in shares of Waddell & Reed Financial by 1.3% during the first quarter. Foresters Investment Management Company Inc. now owns 854,800 shares of the asset manager’s stock worth $17,276,000 after acquiring an additional 11,200 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Waddell & Reed Financial by 14.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 731,870 shares of the asset manager’s stock worth $14,792,000 after acquiring an additional 91,206 shares during the last quarter. Institutional investors own 98.18% of the company’s stock.

Shares of Waddell & Reed Financial stock opened at $20.30 on Thursday. 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, Inc. has a 12 month low of $17.53 and a 12 month high of $23.82. The firm has a market cap of $1.60 billion, a P/E ratio of 10.57, a P/E/G ratio of 1.21 and a beta of 1.88.

Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings data on Tuesday, July 31st. The asset manager reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. Waddell & Reed Financial had a return on equity of 19.29% and a net margin of 13.47%. The business had revenue of $295.34 million during the quarter, compared to analysts’ expectations of $288.92 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. equities research analysts anticipate that Waddell & Reed Financial, Inc. will post 2.2 earnings per share for the current fiscal year.

In related news, Director James M. Raines sold 2,640 shares of Waddell & Reed Financial stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $19.93, for a total transaction of $52,615.20. Following the completion of the sale, the director now directly owns 24,826 shares of the company’s stock, valued at $494,782.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.40% of the stock is owned by insiders.

WDR has been the subject of a number of recent research reports. Zacks Investment Research upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Friday, August 3rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $23.00 target price on shares of Waddell & Reed Financial in a research report on Wednesday, August 1st. Finally, ValuEngine upgraded Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Five analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Waddell & Reed Financial presently has a consensus rating of “Sell” and an average price target of $20.63.

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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Institutional Ownership by Quarter for Waddell & Reed Financial (NYSE:WDR)

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