Waddell & Reed Financial, Inc. (NYSE:WDR) – Investment analysts at Jefferies Group lifted their Q3 2017 earnings estimates for Waddell & Reed Financial in a report released on Tuesday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings per share of $0.38 for the quarter, up from their previous forecast of $0.37. Jefferies Group currently has a “Hold” rating and a $20.00 price objective on the stock. Jefferies Group also issued estimates for Waddell & Reed Financial’s Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.46 EPS, Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.64 EPS and FY2019 earnings at $1.74 EPS.
Waddell & Reed Financial (NYSE:WDR) last issued its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $286.70 million during the quarter, compared to the consensus estimate of $285.25 million. Waddell & Reed Financial had a net margin of 11.34% and a return on equity of 18.75%. Waddell & Reed Financial’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share.
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Other equities research analysts have also recently issued reports about the stock. ValuEngine raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Thursday, October 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 price objective on shares of Waddell & Reed Financial in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada set a $18.00 price objective on shares of Waddell & Reed Financial and gave the stock a “sell” rating in a research report on Wednesday, August 2nd. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.31.
Waddell & Reed Financial (WDR) opened at 20.30 on Thursday. Waddell & Reed Financial has a 52 week low of $15.02 and a 52 week high of $22.45. The company has a 50-day moving average of $19.01 and a 200-day moving average of $18.45. The company has a market cap of $1.70 billion, a P/E ratio of 12.76 and a beta of 2.04.
Large investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC raised its stake in Waddell & Reed Financial by 79.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,624 shares of the asset manager’s stock worth $125,000 after acquiring an additional 2,924 shares in the last quarter. Flinton Capital Management LLC raised its stake in Waddell & Reed Financial by 80.3% during the 2nd quarter. Flinton Capital Management LLC now owns 9,010 shares of the asset manager’s stock worth $170,000 after acquiring an additional 4,012 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Waddell & Reed Financial during the 2nd quarter worth $173,000. CIBC Asset Management Inc acquired a new stake in Waddell & Reed Financial during the 2nd quarter worth $194,000. Finally, Advantus Capital Management Inc raised its stake in Waddell & Reed Financial by 4.8% during the 1st quarter. Advantus Capital Management Inc now owns 10,790 shares of the asset manager’s stock worth $183,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 96.37% of the company’s stock.
In related news, Director Alan W. Kosloff sold 25,076 shares of Waddell & Reed Financial stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $19.40, for a total transaction of $486,474.40. Following the sale, the director now directly owns 71,873 shares in the company, valued at approximately $1,394,336.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Benjamin R. Clouse sold 5,903 shares of Waddell & Reed Financial 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 sale, the vice president now owns 25,845 shares in the company, valued at $517,158.45. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 11th will be paid a dividend of $0.46 per share. The ex-dividend date is Tuesday, October 10th. This represents a $1.84 annualized dividend and a yield of 9.06%. Waddell & Reed Financial’s dividend payout ratio is currently 115.72%.
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.
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