Waddell & Reed Financial (WDR) Price Target Raised to $21.00 at Morgan Stanley

Waddell & Reed Financial (NYSE:WDR) had its target price raised by equities research analysts at Morgan Stanley from $20.00 to $21.00 in a research note issued to investors on Tuesday. The brokerage presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price target would indicate a potential upside of 2.39% from the company’s current price.

WDR has been the subject of several other research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $23.00 target price on shares of Waddell & Reed Financial in a research note on Friday, December 22nd. Royal Bank of Canada reiterated a “sell” rating and issued a $20.00 target price on shares of Waddell & Reed Financial in a research note on Wednesday, January 31st. Credit Suisse Group increased their target price on shares of Waddell & Reed Financial from $18.00 to $19.00 and gave the company an “underperform” rating in a research note on Wednesday, October 25th. Jefferies Group reiterated a “hold” rating and issued a $23.00 target price on shares of Waddell & Reed Financial in a research note on Thursday, January 11th. Finally, Citigroup upgraded shares of Waddell & Reed Financial from a “sell” rating to a “neutral” rating and set a $24.00 target price for the company in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Waddell & Reed Financial presently has an average rating of “Hold” and an average target price of $21.33.

Waddell & Reed Financial (NYSE:WDR) remained flat at $$20.51 during midday trading on Tuesday. 159,073 shares of the stock traded hands, compared to its average volume of 1,160,621. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.02 and a quick ratio of 1.14. Waddell & Reed Financial has a one year low of $16.11 and a one year high of $23.82. The firm has a market cap of $1,677.16, a P/E ratio of 13.86 and a beta of 2.00.

Waddell & Reed Financial (NYSE:WDR) last released its earnings results on Tuesday, January 30th. The asset manager reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Waddell & Reed Financial had a net margin of 10.72% and a return on equity of 16.72%. The business had revenue of $294.48 million during the quarter, compared to analysts’ expectations of $286.55 million. During the same quarter last year, the company earned $0.43 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. research analysts predict that Waddell & Reed Financial will post 2.07 EPS for the current year.

In related news, Director Alan W. Kosloff sold 19,178 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $19.82, for a total value of $380,107.96. Following the completion of the transaction, the director now owns 52,695 shares of the company’s stock, valued at $1,044,414.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry W. Walton sold 5,792 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.95, for a total transaction of $132,926.40. Following the completion of the transaction, the director now directly owns 81,332 shares of the company’s stock, valued at approximately $1,866,569.40. The disclosure for this sale can be found here. Insiders sold 101,411 shares of company stock valued at $2,229,239 in the last three months. Company insiders own 3.80% of the company’s stock.

A number of large investors have recently bought and sold shares of WDR. Burgundy Asset Management Ltd. increased its holdings in shares of Waddell & Reed Financial by 13.0% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,060,668 shares of the asset manager’s stock worth $23,695,000 after buying an additional 122,286 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Waddell & Reed Financial during the fourth quarter worth approximately $7,059,000. Systematic Financial Management LP increased its holdings in shares of Waddell & Reed Financial by 26.6% during the fourth quarter. Systematic Financial Management LP now owns 254,459 shares of the asset manager’s stock worth $5,685,000 after buying an additional 53,508 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Waddell & Reed Financial by 7.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 268,981 shares of the asset manager’s stock worth $6,009,000 after buying an additional 18,878 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Waddell & Reed Financial by 7.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 106,854 shares of the asset manager’s stock worth $2,387,000 after buying an additional 7,586 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/02/13/waddell-reed-financial-wdr-price-target-raised-to-21-00-at-morgan-stanley.html.

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.

Analyst Recommendations for Waddell & Reed Financial (NYSE:WDR)

Receive News & Ratings for Waddell & Reed Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waddell & Reed Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply