Ameriprise Financial Inc. increased its holdings in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 513,110 shares of the asset manager’s stock after purchasing an additional 6,701 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.62% of Waddell & Reed Financial worth $10,298,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Riverhead Capital Management LLC grew its position 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 worth $125,000 after purchasing an additional 2,924 shares in the last quarter. Flinton Capital Management LLC grew its position in shares of Waddell & Reed Financial by 80.3% during the second quarter. Flinton Capital Management LLC now owns 9,010 shares of the asset manager’s stock worth $170,000 after purchasing an additional 4,012 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Waddell & Reed Financial during the second quarter worth about $173,000. CIBC World Markets Inc. purchased a new stake in shares of Waddell & Reed Financial during the second quarter worth about $205,000. Finally, Chicago Equity Partners LLC purchased a new position in Waddell & Reed Financial during the 3rd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 97.43% of the company’s stock.
WDR has been the subject of several research analyst reports. ValuEngine cut Waddell & Reed Financial from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Zacks Investment Research upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Thursday, October 5th. Credit Suisse Group raised their price target on Waddell & Reed Financial from $18.00 to $19.00 and gave the company an “underperform” rating in a report on Wednesday, October 25th. Royal Bank of Canada set a $18.00 price target on Waddell & Reed Financial and gave the company a “sell” rating in a report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $21.00 price target on shares of Waddell & Reed Financial in a report on Thursday, October 26th. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $19.00.
Waddell & Reed Financial, Inc. (NYSE:WDR) opened at $22.56 on Thursday. The firm has a market capitalization of $1,880.00, a P/E ratio of 13.12 and a beta of 2.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.14 and a current ratio of 3.02. Waddell & Reed Financial, Inc. has a 1-year low of $16.11 and a 1-year high of $22.88.
Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings data on Tuesday, October 24th. The asset manager reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $289.45 million during the quarter, compared to analyst estimates of $285.30 million. Waddell & Reed Financial had a return on equity of 16.81% and a net margin of 10.10%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. equities research analysts expect that Waddell & Reed Financial, Inc. will post 1.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Thursday, January 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Wednesday, January 10th. Waddell & Reed Financial’s payout ratio is 131.43%.
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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.
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