Citigroup Inc. trimmed its holdings in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 3.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 166,711 shares of the asset manager’s stock after selling 6,062 shares during the period. Citigroup Inc.’s holdings in Waddell & Reed Financial were worth $2,883,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Captrust Financial Advisors grew its stake in Waddell & Reed Financial by 181.9% during the 4th quarter. Captrust Financial Advisors now owns 1,452 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 937 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of Waddell & Reed Financial during the fourth quarter valued at approximately $30,000. IFP Advisors Inc raised its holdings in shares of Waddell & Reed Financial by 968.8% during the fourth quarter. IFP Advisors Inc now owns 4,243 shares of the asset manager’s stock valued at $76,000 after acquiring an additional 3,846 shares during the last quarter. US Bancorp DE increased its holdings in shares of Waddell & Reed Financial by 18.9% in the first quarter. US Bancorp DE now owns 6,487 shares of the asset manager’s stock valued at $112,000 after purchasing an additional 1,032 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Waddell & Reed Financial by 17.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,744 shares of the asset manager’s stock valued at $122,000 after purchasing an additional 1,012 shares during the last quarter. Hedge funds and other institutional investors own 98.19% of the company’s stock.
Several research analysts have recently commented on the company. Gabelli restated a “buy” rating on shares of Waddell & Reed Financial in a research report on Wednesday, May 1st. Bank of America upgraded Waddell & Reed Financial from an “underperform” rating to a “neutral” rating and set a $18.59 price target on the stock in a research report on Friday, April 12th. Finally, Zacks Investment Research upgraded Waddell & Reed Financial from a “sell” rating to a “hold” rating and set a $20.00 price target on the stock in a research report on Tuesday, April 9th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.66.
In other Waddell & Reed Financial news, Director Dennis E. Logue sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $16.72, for a total value of $83,600.00. Following the sale, the director now owns 69,452 shares in the company, valued at $1,161,237.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is currently owned by company insiders.
Shares of Waddell & Reed Financial stock opened at $16.93 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.41 and a quick ratio of 1.46. Waddell & Reed Financial, Inc. has a twelve month low of $15.97 and a twelve month high of $21.63. The firm has a market cap of $1.24 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 4.17 and a beta of 1.50.
Waddell & Reed Financial (NYSE:WDR) last issued its quarterly earnings results on Tuesday, April 30th. The asset manager reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. Waddell & Reed Financial had a net margin of 15.09% and a return on equity of 19.31%. The business had revenue of $259.40 million for the quarter, compared to analysts’ expectations of $262.55 million. During the same quarter last year, the company posted $0.56 earnings per share. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Waddell & Reed Financial, Inc. will post 1.59 earnings per share for the current year.
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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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