Waddell & Reed Financial Inc. (WDR) Stock Price Down 3.1%
Waddell & Reed Financial Inc. (NYSE:WDR)’s share price dropped 3.1% on Tuesday . The stock traded as low as $17.47 and last traded at $17.47, with a volume of 794,690 shares trading hands. The stock had previously closed at $18.03.
WDR has been the subject of several recent analyst reports. Royal Bank Of Canada cut their price target on Waddell & Reed Financial from $49.00 to $44.00 and set an “outperform” rating for the company in a research note on Wednesday, June 1st. Zacks Investment Research upgraded Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research note on Monday, June 6th. Jefferies Group restated a “hold” rating and issued a $18.00 price target (down previously from $23.00) on shares of Waddell & Reed Financial in a research note on Monday, July 11th. Citigroup Inc. upgraded Waddell & Reed Financial from a “sell” rating to a “neutral” rating and set a $16.00 price target for the company in a research note on Tuesday, July 12th. Finally, RBC Capital Markets set a $26.00 price target on Waddell & Reed Financial and gave the company a “buy” rating in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $23.73.
The stock’s 50 day moving average price is $18.56 and its 200-day moving average price is $20.09. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.96 and a beta of 1.84.
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Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.11. The firm earned $319.20 million during the quarter, compared to the consensus estimate of $312.82 million. Waddell & Reed Financial had a net margin of 13.16% and a return on equity of 26.65%. The firm’s revenue was down 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. Equities research analysts predict that Waddell & Reed Financial Inc. will post $1.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 11th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 10.54%. Waddell & Reed Financial’s payout ratio is currently 83.64%.
A number of large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of Waddell & Reed Financial by 187.5% in the first quarter. BlackRock Fund Advisors now owns 8,746,488 shares of the company’s stock worth $205,892,000 after buying an additional 5,704,745 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Waddell & Reed Financial by 155.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,724,685 shares of the company’s stock worth $46,919,000 after buying an additional 1,656,992 shares during the last quarter. AQR Capital Management LLC increased its stake in Waddell & Reed Financial by 377.4% in the second quarter. AQR Capital Management LLC now owns 1,558,654 shares of the company’s stock worth $26,841,000 after buying an additional 1,232,190 shares during the last quarter. CWM LLC bought a new stake in Waddell & Reed Financial during the second quarter worth about $11,132,000. Finally, Burgundy Asset Management Ltd. increased its stake in Waddell & Reed Financial by 175.2% in the first quarter. Burgundy Asset Management Ltd. now owns 968,643 shares of the company’s stock worth $22,802,000 after buying an additional 616,663 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.
Waddell & Reed Financial Company Profile
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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