Waddell & Reed Financial, Inc. (WDR) Posts Quarterly Earnings Results
Waddell & Reed Financial, Inc. (NYSE:WDR) posted its quarterly earnings results on Monday. The asset manager reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04, Bloomberg Earnings reports. The firm had revenue of $289.45 million for the quarter, compared to analyst estimates of $285.30 million. Waddell & Reed Financial had a return on equity of 18.75% and a net margin of 11.34%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS.
Shares of Waddell & Reed Financial (NYSE:WDR) opened at 20.24 on Tuesday. 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 $1.69 billion, a P/E ratio of 12.72 and a beta of 2.04. The stock’s 50 day moving average price is $19.39 and its 200-day moving average price is $18.66.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 11th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, October 10th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.09%. Waddell & Reed Financial’s payout ratio is 115.72%.
In other news, Director Alan W. Kosloff sold 25,076 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $19.40, for a total value of $486,474.40. Following the completion of the transaction, the director now directly owns 71,873 shares of the company’s stock, valued at $1,394,336.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Benjamin R. Clouse sold 5,903 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $20.01, for a total value of $118,119.03. Following the completion of the transaction, the vice president now directly owns 25,845 shares of the company’s stock, valued at $517,158.45. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.
Several research analysts have recently commented on the company. Royal Bank Of Canada set a $18.00 target price on Waddell & Reed Financial and gave the stock a “sell” rating in a research note on Wednesday, October 18th. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 target price (down from $20.00) on shares of Waddell & Reed Financial in a research note on Wednesday, August 2nd. Morgan Stanley reiterated an “underweight” rating and set a $15.00 target price (up from $14.00) on shares of Waddell & Reed Financial in a research note on Monday, July 10th. ValuEngine upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Thursday, October 5th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.86.
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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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