Waddell & Reed Financial, Inc. (WDR) Receives $20.00 Consensus Price Target from Analysts

Waddell & Reed Financial, Inc. (NYSE:WDR) has been given a consensus recommendation of “Sell” by the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.00.

Several equities analysts recently issued reports on WDR shares. Zacks Investment Research raised Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, October 8th. ValuEngine raised Waddell & Reed Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 8th. Royal Bank of Canada set a $17.00 target price on Waddell & Reed Financial and gave the company a “sell” rating in a research report on Wednesday, October 31st. Citigroup set a $20.00 target price on Waddell & Reed Financial and gave the company a “hold” rating in a research report on Wednesday, October 31st. Finally, Credit Suisse Group cut their target price on Waddell & Reed Financial from $20.00 to $18.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 31st.

In other Waddell & Reed Financial news, Director Alan W. Kosloff sold 19,614 shares of the stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $20.42, for a total transaction of $400,517.88. Following the sale, the director now directly owns 22,184 shares of the company’s stock, valued at approximately $452,997.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry W. Walton sold 9,427 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $19.05, for a total value of $179,584.35. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAM Holding AG grew its position 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 worth $1,362,000 after purchasing an additional 2,531 shares during the period. Neuburgh Advisers LLC grew its position in Waddell & Reed Financial by 34.2% during the 2nd quarter. Neuburgh Advisers LLC now owns 11,044 shares of the asset manager’s stock worth $198,000 after purchasing an additional 2,816 shares during the period. Victory Capital Management Inc. grew its position in shares of 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 acquiring an additional 3,023 shares during the period. Riverhead Capital Management LLC grew its position in shares of 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 acquiring an additional 3,100 shares during the period. Finally, Tyers Asset Management LLC grew its position in shares of Waddell & Reed Financial by 34.2% during the 2nd quarter. Tyers Asset Management LLC now owns 14,056 shares of the asset manager’s stock valued at $253,000 after acquiring an additional 3,584 shares during the period.

NYSE WDR opened at $20.36 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.80 and a current ratio of 4.04. Waddell & Reed Financial has a 1 year low of $17.53 and a 1 year high of $23.82. The firm has a market capitalization of $1.59 billion, a P/E ratio of 9.34, a PEG ratio of 1.17 and a beta of 1.64.

Waddell & Reed Financial (NYSE:WDR) last released its earnings results on Tuesday, October 30th. The asset manager reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. Waddell & Reed Financial had a return on equity of 20.10% and a net margin of 14.11%. The firm had revenue of $295.10 million for the quarter, compared to the consensus estimate of $293.63 million. During the same period in the prior year, the firm earned $0.44 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Waddell & Reed Financial will post 2.22 earnings per share for the current fiscal year.

About Waddell & Reed Financial

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

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