Shares of Waddell & Reed Financial, Inc. (NYSE:WDR) have been assigned a consensus recommendation of “Sell” from the ten brokerages that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.50.
A number of equities research analysts have commented on WDR shares. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $16.50 target price on shares of Waddell & Reed Financial in a report on Friday, June 9th. BidaskClub upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. ValuEngine upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Jefferies Group LLC reiterated a “hold” rating and set a $18.00 target price on shares of Waddell & Reed Financial in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada started coverage on Waddell & Reed Financial in a report on Thursday, June 29th. They set an “underperform” rating and a $17.00 target price on the stock.
In other Waddell & Reed Financial news, Director Alan W. Kosloff sold 25,076 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $19.40, for a total transaction of $486,474.40. Following the sale, the director now directly owns 71,873 shares of the company’s stock, valued at $1,394,336.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Benjamin R. Clouse sold 5,903 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $20.01, for a total transaction of $118,119.03. Following the sale, the vice president now directly owns 25,845 shares in the company, valued at $517,158.45. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Sterneck Capital Management LLC grew its stake in Waddell & Reed Financial by 5.7% during the second quarter. Sterneck Capital Management LLC now owns 228,783 shares of the asset manager’s stock worth $4,319,000 after buying an additional 12,422 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in Waddell & Reed Financial during the second quarter worth about $341,000. Argent Capital Management LLC bought a new stake in Waddell & Reed Financial during the second quarter worth about $1,001,000. C M Bidwell & Associates Ltd. bought a new stake in Waddell & Reed Financial during the second quarter worth about $173,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Waddell & Reed Financial during the second quarter worth about $265,000. 96.37% of the stock is currently owned by hedge funds and other institutional investors.
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Waddell & Reed Financial (NYSE:WDR) traded up 0.90% during trading on Friday, reaching $20.07. The company’s stock had a trading volume of 893,125 shares. The company has a 50 day moving average price of $18.67 and a 200-day moving average price of $18.21. Waddell & Reed Financial has a 52 week low of $15.02 and a 52 week high of $22.45. The company has a market capitalization of $1.68 billion, a PE ratio of 12.61 and a beta of 2.06.
Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, August 1st. The asset manager reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $285.25 million. Waddell & Reed Financial had a return on equity of 18.75% and a net margin of 11.34%. Waddell & Reed Financial’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. Equities research analysts anticipate that Waddell & Reed Financial will post $1.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 11th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 9.17%. The ex-dividend date of this dividend is Tuesday, October 10th. Waddell & Reed Financial’s dividend payout ratio (DPR) is presently 115.72%.
Waddell & Reed Financial Company Profile
Waddell & Reed Financial, Inc, incorporated on December 24, 1981, is a holding company. The Company is a mutual fund and asset management company. The Company provides investment management, investment advisory, investment product underwriting, and distribution and shareholder services administration to Waddell & Reed Advisors group of mutual funds (the Advisors Funds), Ivy Funds, Ivy Funds Variable Insurance Portfolios (Ivy Funds VIP), InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV (the SICAV) and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.
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