Waddell & Reed Financial, Inc. (NYSE:WDR) Position Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 263.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,644 shares of the asset manager’s stock after buying an additional 17,144 shares during the period. State of Alaska Department of Revenue’s holdings in Waddell & Reed Financial were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Gateway Investment Advisers LLC increased its stake in Waddell & Reed Financial by 28.6% in the first quarter. Gateway Investment Advisers LLC now owns 231,185 shares of the asset manager’s stock worth $3,930,000 after buying an additional 51,469 shares during the last quarter. Donald L. Hagan LLC increased its stake in Waddell & Reed Financial by 1.4% in the first quarter. Donald L. Hagan LLC now owns 41,588 shares of the asset manager’s stock worth $707,000 after buying an additional 582 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Waddell & Reed Financial by 3.9% in the first quarter. Louisiana State Employees Retirement System now owns 21,300 shares of the asset manager’s stock worth $362,000 after buying an additional 800 shares during the last quarter. CWM LLC increased its stake in Waddell & Reed Financial by 14.9% in the first quarter. CWM LLC now owns 1,035,043 shares of the asset manager’s stock worth $17,596,000 after buying an additional 134,538 shares during the last quarter. Finally, Creative Planning increased its stake in Waddell & Reed Financial by 250.7% in the first quarter. Creative Planning now owns 14,091 shares of the asset manager’s stock worth $240,000 after buying an additional 10,073 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Waddell & Reed Financial, Inc. (NYSE:WDR) opened at 18.73 on Friday. The company has a 50-day moving average of $19.87 and a 200 day moving average of $18.23. Waddell & Reed Financial, Inc. has a 52-week low of $15.02 and a 52-week high of $22.45. The company has a market cap of $1.57 billion, a PE ratio of 11.77 and a beta of 2.04.

Waddell & Reed Financial (NYSE:WDR) last released its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Waddell & Reed Financial had a net margin of 11.34% and a return on equity of 18.75%. The firm had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $285.25 million. During the same quarter last year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts predict that Waddell & Reed Financial, Inc. will post $1.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 11th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 9.82%. The ex-dividend date of this dividend was Friday, July 7th. Waddell & Reed Financial’s dividend payout ratio is presently 115.72%.

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A number of research firms have weighed in on WDR. Credit Suisse Group decreased their price objective on Waddell & Reed Financial from $19.00 to $18.00 and set an “underperform” rating on the stock in a report on Friday. Jefferies Group LLC reissued a “hold” rating and issued a $18.00 target price on shares of Waddell & Reed Financial in a report on Wednesday, June 28th. BidaskClub raised Waddell & Reed Financial from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Royal Bank Of Canada set a $18.00 target price on Waddell & Reed Financial and gave the stock a “sell” rating in a report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 target price on shares of Waddell & Reed Financial in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.06.

In related news, Director Alan W. Kosloff sold 25,076 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $19.40, for a total value of $486,474.40. Following the sale, the director now owns 71,873 shares in the company, valued at $1,394,336.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Benjamin R. Clouse sold 5,903 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $20.01, for a total transaction of $118,119.03. Following the completion of the sale, the vice president now owns 25,845 shares in the company, valued at approximately $517,158.45. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

About Waddell & Reed Financial

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.

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

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