Waddell & Reed Financial Inc. (NYSE:WDR) Receives Average Recommendation of “Hold” from Analysts
Waddell & Reed Financial Inc. (NYSE:WDR) has received an average rating of “Hold” from the thirteen research firms that are currently covering the company. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $22.80.
Several equities analysts have recently weighed in on the stock. Citigroup Inc. upgraded shares of Waddell & Reed Financial from a “sell” rating to a “neutral” rating and set a $16.00 price objective on the stock in a research note on Tuesday, July 12th. Royal Bank Of Canada lowered their price objective on shares of Waddell & Reed Financial from $49.00 to $44.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 1st. Zacks Investment Research upgraded shares of Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Morgan Stanley restated a “sell” rating and set a $17.00 target price on shares of Waddell & Reed Financial in a research note on Thursday, July 28th. Finally, Jefferies Group restated a “hold” rating and set a $18.00 target price (down previously from $23.00) on shares of Waddell & Reed Financial in a research note on Monday, July 11th.
Several hedge funds and other institutional investors have recently bought and sold shares of WDR. Fox Run Management L.L.C. acquired a new position in Waddell & Reed Financial during the first quarter worth $346,000. Aperio Group LLC raised its position in Waddell & Reed Financial by 0.6% in the first quarter. Aperio Group LLC now owns 75,291 shares of the company’s stock worth $1,772,000 after buying an additional 431 shares during the period. Ramsey Quantitative Systems raised its position in Waddell & Reed Financial by 28.4% in the first quarter. Ramsey Quantitative Systems now owns 44,435 shares of the company’s stock worth $1,046,000 after buying an additional 9,824 shares during the period. Bancorpsouth Inc. acquired a new position in Waddell & Reed Financial during the first quarter worth $866,000. Finally, Allegis Investment Advisors LLC raised its position in Waddell & Reed Financial by 106.3% in the first quarter. Allegis Investment Advisors LLC now owns 10,421 shares of the company’s stock worth $245,000 after buying an additional 5,369 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.
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Waddell & Reed Financial (NYSE:WDR) traded up 0.57% during trading on Wednesday, reaching $17.55. 268,086 shares of the company’s stock were exchanged. Waddell & Reed Financial has a 12-month low of $15.70 and a 12-month high of $38.85. The company has a market cap of $1.45 billion, a P/E ratio of 8.00 and a beta of 1.84. The stock’s 50-day moving average is $18.56 and its 200-day moving average is $20.09.
Waddell & Reed Financial (NYSE:WDR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.11. Waddell & Reed Financial had a net margin of 13.16% and a return on equity of 26.65%. The firm had revenue of $319.20 million for the quarter, compared to analysts’ expectations of $312.82 million. During the same quarter in the prior year, the business earned $0.80 EPS. The business’s quarterly revenue was down 19.0% on a year-over-year basis. Analysts predict that Waddell & Reed Financial will post $1.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 11th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.54%. The ex-dividend date is Thursday, October 6th. Waddell & Reed Financial’s dividend payout ratio (DPR) is presently 83.64%.
About Waddell & Reed Financial
Waddell & Reed Financial, Inc 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, Ivy Funds, Ivy Funds Variable Insurance Portfolios, InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.
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