Bank of New York Mellon Corp Raises Holdings in Waddell & Reed Financial, Inc. (WDR)

Bank of New York Mellon Corp raised its stake in Waddell & Reed Financial, Inc. (NYSE:WDR) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,555,870 shares of the asset manager’s stock after acquiring an additional 23,436 shares during the period. Bank of New York Mellon Corp owned 1.86% of Waddell & Reed Financial worth $29,376,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WDR. BlackRock Inc. boosted its stake in Waddell & Reed Financial by 23,010.1% in the first quarter. BlackRock Inc. now owns 16,672,997 shares of the asset manager’s stock valued at $283,440,000 after acquiring an additional 16,600,851 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Waddell & Reed Financial by 119.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,003,501 shares of the asset manager’s stock worth $34,059,000 after buying an additional 1,091,695 shares during the period. State Street Corp boosted its position in shares of Waddell & Reed Financial by 19.4% during the first quarter. State Street Corp now owns 3,481,236 shares of the asset manager’s stock worth $59,185,000 after buying an additional 565,584 shares during the period. Global X Management Co. LLC acquired a new position in shares of Waddell & Reed Financial during the first quarter worth approximately $7,726,000. Finally, Schroder Investment Management Group boosted its position in shares of Waddell & Reed Financial by 24.4% during the first quarter. Schroder Investment Management Group now owns 2,164,833 shares of the asset manager’s stock worth $36,802,000 after buying an additional 424,885 shares during the period. Institutional investors own 96.42% of the company’s stock.

Several equities analysts have recently issued reports on the company. ValuEngine downgraded Waddell & Reed Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. BidaskClub downgraded Waddell & Reed Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $20.00 price objective on shares of Waddell & Reed Financial in a research report on Thursday, August 3rd. Credit Suisse Group reduced their price objective on Waddell & Reed Financial from $19.00 to $18.00 and set an “underperform” rating for the company in a research report on Friday, August 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $18.00 price objective on shares of Waddell & Reed Financial in a research report on Wednesday, June 28th. Six research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Waddell & Reed Financial has a consensus rating of “Sell” and a consensus price target of $18.06.

In other news, VP Benjamin R. Clouse sold 5,903 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $20.01, for a total transaction of $118,119.03. Following the sale, the vice president now directly owns 25,845 shares of the company’s stock, valued at $517,158.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan W. Kosloff sold 25,076 shares of the stock in a transaction that occurred 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 $1,394,336.20. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Shares of Waddell & Reed Financial, Inc. (WDR) opened at 18.66 on Tuesday. The company’s 50-day moving average price is $19.08 and its 200 day moving average price is $18.24. The company has a market cap of $1.56 billion, a PE ratio of 11.73 and a beta of 2.06. Waddell & Reed Financial, Inc. has a one year low of $15.02 and a one year high of $22.45.

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

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Waddell & Reed Financial 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.

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

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