Keefe, Bruyette & Woods Reaffirms Hold Rating for Waddell & Reed Financial (WDR)

Keefe, Bruyette & Woods restated their hold rating on shares of Waddell & Reed Financial (NYSE:WDR) in a research note published on Friday. The firm currently has a $23.00 price target on the asset manager’s stock.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Waddell & Reed Financial from a hold rating to a buy rating and set a $23.00 target price for the company in a research report on Thursday, October 5th. ValuEngine upgraded shares of Waddell & Reed Financial from a hold rating to a buy rating in a research report on Monday, October 2nd. Jefferies Group raised their price objective on shares of Waddell & Reed Financial from $19.00 to $20.00 and gave the stock a hold rating in a research report on Tuesday, October 10th. 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, October 18th. Finally, Credit Suisse Group raised their price objective on shares of Waddell & Reed Financial from $18.00 to $19.00 and gave the stock an underperform rating in a research report on Wednesday, October 25th. Six 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 currently has an average rating of Hold and an average price target of $19.25.

Waddell & Reed Financial (NYSE WDR) opened at $22.49 on Friday. The company has a current ratio of 3.02, a quick ratio of 1.14 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1,890.00, a price-to-earnings ratio of 16.06 and a beta of 2.10. Waddell & Reed Financial has a 12-month low of $16.11 and a 12-month high of $22.88.

Waddell & Reed Financial (NYSE:WDR) last issued its earnings results on Tuesday, October 24th. The asset manager reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04. The business had revenue of $289.45 million during the quarter, compared to analysts’ expectations of $285.30 million. Waddell & Reed Financial had a net margin of 13.55% and a return on equity of 17.76%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. equities analysts predict that Waddell & Reed Financial will post 1.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Thursday, January 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.45%. The ex-dividend date is Wednesday, January 10th. Waddell & Reed Financial’s dividend payout ratio (DPR) is presently 131.43%.

In other Waddell & Reed Financial news, CMO Thomas W. Butch sold 5,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $19.26, for a total transaction of $96,300.00. Following the completion of the transaction, the chief marketing officer now owns 248 shares of the company’s stock, valued at $4,776.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John E. Sundeen, Jr. sold 45,168 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $22.48, for a total transaction of $1,015,376.64. Following the transaction, the chief accounting officer now directly owns 270,437 shares of the company’s stock, valued at approximately $6,079,423.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,619 shares of company stock valued at $2,192,613. 3.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Riverhead Capital Management LLC boosted its stake in shares of Waddell & Reed Financial by 79.0% in the second quarter. Riverhead Capital Management LLC now owns 6,624 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 2,924 shares during the period. Flinton Capital Management LLC raised its holdings in Waddell & Reed Financial by 80.3% in the second quarter. Flinton Capital Management LLC now owns 9,010 shares of the asset manager’s stock valued at $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 in the second quarter valued at approximately $173,000. Chicago Equity Partners LLC acquired a new stake in Waddell & Reed Financial in the third quarter valued at approximately $205,000. Finally, CIBC World Markets Inc. acquired a new stake in Waddell & Reed Financial in the second quarter valued at approximately $205,000. 97.43% of the stock is owned by institutional investors and hedge funds.

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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.

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

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