Waddell & Reed Financial, Inc. (NYSE:WDR) VP Sells $118,119.03 in Stock

Waddell & Reed Financial, Inc. (NYSE:WDR) VP Benjamin R. Clouse sold 5,903 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $20.01, for a total transaction of $118,119.03. Following the completion of the sale, the vice president now owns 25,845 shares of the company’s stock, valued at approximately $517,158.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Waddell & Reed Financial, Inc. (WDR) traded down 0.16% on Friday, hitting $18.73. 882,536 shares of the company traded hands. Waddell & Reed Financial, Inc. has a 12 month low of $15.02 and a 12 month high of $22.45. The stock’s 50-day moving average is $19.87 and its 200 day moving average is $18.23. The firm has a market capitalization of $1.57 billion, a P/E ratio of 11.77 and a beta of 2.04.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Waddell & Reed Financial had a net margin of 11.34% and a return on equity of 18.75%. The business had revenue of $286.70 million during the quarter, compared to analyst estimates of $285.25 million. During the same quarter last year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter 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.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 11th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.84 dividend on an annualized basis and a yield of 9.82%. Waddell & Reed Financial’s dividend payout ratio is currently 115.72%.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Riverhead Capital Management LLC increased its position 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 worth $125,000 after buying an additional 2,924 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of Waddell & Reed Financial during the second quarter worth about $194,000. Advantus Capital Management Inc increased its position in shares of Waddell & Reed Financial by 4.8% in the first quarter. Advantus Capital Management Inc now owns 10,790 shares of the asset manager’s stock worth $183,000 after buying an additional 498 shares in the last quarter. CIBC World Markets Inc. purchased a new position in shares of Waddell & Reed Financial during the second quarter worth about $205,000. Finally, Bridgecreek Investment Management LLC increased its position in shares of Waddell & Reed Financial by 10.0% in the first quarter. Bridgecreek Investment Management LLC now owns 11,000 shares of the asset manager’s stock worth $187,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Several research firms have recently commented on WDR. BidaskClub lowered shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating in a report on Friday. Credit Suisse Group reduced their price target on shares of Waddell & Reed Financial from $19.00 to $18.00 and set an “underperform” rating for the company in a report on Friday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $20.00 price target on shares of Waddell & Reed Financial in a report on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and issued a $19.00 price target (down previously from $20.00) on shares of Waddell & Reed Financial in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada began coverage on shares of Waddell & Reed Financial in a report on Thursday, June 29th. They issued an “underperform” rating and a $17.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.06.

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.

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