Tyers Asset Management LLC grew its stake in Waddell & Reed Financial, Inc. (NYSE:WDR) by 34.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 14,056 shares of the asset manager’s stock after buying an additional 3,584 shares during the period. Tyers Asset Management LLC’s holdings in Waddell & Reed Financial were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of WDR. Wells Fargo & Company MN increased its position in Waddell & Reed Financial by 7.6% in the first quarter. Wells Fargo & Company MN now owns 191,842 shares of the asset manager’s stock worth $3,877,000 after buying an additional 13,606 shares in the last quarter. SG Americas Securities LLC increased its position in Waddell & Reed Financial by 156.2% in the first quarter. SG Americas Securities LLC now owns 15,276 shares of the asset manager’s stock worth $309,000 after buying an additional 9,313 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Waddell & Reed Financial in the first quarter worth about $417,000. Trexquant Investment LP increased its position in Waddell & Reed Financial by 473.4% in the first quarter. Trexquant Investment LP now owns 65,740 shares of the asset manager’s stock worth $1,329,000 after buying an additional 54,275 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Waddell & Reed Financial by 10.1% in the first quarter. Victory Capital Management Inc. now owns 41,733 shares of the asset manager’s stock worth $843,000 after buying an additional 3,844 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.
A number of analysts have commented on the company. ValuEngine upgraded Waddell & Reed Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Waddell & Reed Financial in a research note on Wednesday, August 1st. Finally, Zacks Investment Research lowered Waddell & Reed Financial from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Five equities research 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 $20.63.
In related news, Director James M. Raines sold 2,640 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 24,826 shares of the company’s stock, valued at $494,782.18. The sale was disclosed in a filing with the SEC, which is available through this link. 3.40% of the stock is currently owned by corporate insiders.
NYSE WDR opened at $20.38 on Thursday. The stock has a market capitalization of $1.60 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.99 and a quick ratio of 1.75. Waddell & Reed Financial, Inc. has a twelve month low of $17.53 and a twelve month high of $23.82.
Waddell & Reed Financial (NYSE:WDR) last released its quarterly earnings data on Tuesday, July 31st. The asset manager reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The firm had revenue of $295.34 million during the quarter, compared to analyst estimates of $288.92 million. Waddell & Reed Financial had a return on equity of 19.29% and a net margin of 13.47%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 earnings per share. equities research analysts predict that Waddell & Reed Financial, Inc. will post 2.2 earnings per share for the current fiscal year.
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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