Waddell & Reed Financial, Inc. (WDR) Receives $19.00 Consensus PT from Brokerages

Waddell & Reed Financial, Inc. (NYSE:WDR) has earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.00.

A number of research analysts have weighed in on the stock. BidaskClub cut shares of Waddell & Reed Financial from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. ValuEngine cut shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Credit Suisse Group boosted their price objective on shares of Waddell & Reed Financial from $18.00 to $19.00 and gave the company an “underperform” rating in a research report on Wednesday, October 25th. Zacks Investment Research cut shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research report on Thursday, October 12th. Finally, Bank of America boosted their price objective on shares of Waddell & Reed Financial from $17.00 to $18.00 and gave the company an “underperform” rating in a research report on Wednesday, October 25th.

In other news, Director Alan W. Kosloff sold 19,178 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $19.82, for a total transaction of $380,107.96. Following the completion of the sale, the director now directly owns 52,695 shares of the company’s stock, valued at $1,044,414.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Thomas W. Butch sold 5,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $19.26, for a total transaction of $96,300.00. Following the sale, the chief marketing officer now directly owns 248 shares of the company’s stock, valued at $4,776.48. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of WDR. Riverhead Capital Management LLC boosted its stake in shares of Waddell & Reed Financial by 79.0% during 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 lifted its stake 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 worth $170,000 after acquiring an additional 4,012 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in Waddell & Reed Financial in the second quarter worth about $173,000. CIBC Asset Management Inc purchased a new stake in Waddell & Reed Financial in the second quarter worth about $194,000. Finally, CIBC World Markets Inc. purchased a new stake in Waddell & Reed Financial in the second quarter worth about $205,000. 97.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Waddell & Reed Financial (NYSE WDR) traded up $0.49 on Thursday, reaching $21.74. 2,830,000 shares of the company traded hands, compared to its average volume of 983,342. Waddell & Reed Financial has a 12 month low of $16.11 and a 12 month high of $21.94. The company has a market capitalization of $1,810.00, a PE ratio of 12.71 and a beta of 2.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.02 and a quick ratio of 1.14.

Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings results on Tuesday, October 24th. The asset manager reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. Waddell & Reed Financial had a net margin of 10.10% and a return on equity of 16.81%. The company had revenue of $289.45 million for the quarter, compared to analysts’ expectations of $285.30 million. During the same quarter in the previous year, the business posted $0.65 earnings per share. Waddell & Reed Financial’s quarterly revenue was down 4.5% on a year-over-year basis. analysts anticipate that Waddell & Reed Financial will post 1.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Thursday, January 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Wednesday, January 10th. Waddell & Reed Financial’s dividend payout ratio (DPR) is 131.43%.

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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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