Waddell & Reed Financial, Inc. (WDR) Position Trimmed by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in Waddell & Reed Financial, Inc. (NYSE:WDR) by 70.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 161,352 shares of the asset manager’s stock after selling 377,734 shares during the period. Prudential Financial Inc. owned about 0.21% of Waddell & Reed Financial worth $2,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Waddell & Reed Financial by 17.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,744 shares of the asset manager’s stock valued at $122,000 after buying an additional 1,012 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Waddell & Reed Financial during the 4th quarter valued at $37,000. GAM Holding AG raised its stake in Waddell & Reed Financial by 4.1% during the 3rd quarter. GAM Holding AG now owns 64,301 shares of the asset manager’s stock valued at $1,362,000 after buying an additional 2,531 shares during the last quarter. Victory Capital Management Inc. raised its stake in Waddell & Reed Financial by 7.1% during the 3rd quarter. Victory Capital Management Inc. now owns 45,598 shares of the asset manager’s stock valued at $966,000 after buying an additional 3,023 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its stake in Waddell & Reed Financial by 24.6% during the 3rd quarter. Riverhead Capital Management LLC now owns 15,721 shares of the asset manager’s stock valued at $333,000 after buying an additional 3,100 shares during the last quarter. Institutional investors own 98.19% of the company’s stock.

NYSE:WDR opened at $17.68 on Friday. The company has a quick ratio of 0.69, a current ratio of 3.27 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.35 billion, a PE ratio of 7.75, a P/E/G ratio of 2.24 and a beta of 1.44. Waddell & Reed Financial, Inc. has a one year low of $16.01 and a one year high of $21.83.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings data on Tuesday, February 5th. The asset manager reported $0.60 EPS for the quarter, topping the consensus estimate of $0.49 by $0.11. The firm had revenue of $272.20 million during the quarter, compared to analyst estimates of $273.78 million. Waddell & Reed Financial had a return on equity of 20.81% and a net margin of 15.82%. Waddell & Reed Financial’s revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. Sell-side analysts expect that Waddell & Reed Financial, Inc. will post 1.38 EPS for the current fiscal year.

WDR has been the subject of a number of research reports. Citigroup lowered shares of Waddell & Reed Financial from a “neutral” rating to a “sell” rating in a research note on Monday, January 14th. Morgan Stanley set a $14.00 target price on shares of Waddell & Reed Financial and gave the company a “sell” rating in a research note on Friday, February 8th. ValuEngine lowered shares of Waddell & Reed Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. Finally, Zacks Investment Research lowered shares of Waddell & Reed Financial from a “hold” rating to a “sell” rating in a research note on Sunday, January 6th. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Waddell & Reed Financial presently has an average rating of “Sell” and a consensus target price of $19.17.

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Waddell & Reed Financial Profile

Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.

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Institutional Ownership by Quarter for Waddell & Reed Financial (NYSE:WDR)

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