Waddell & Reed Financial, Inc. (NYSE:WDR) – Analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for Waddell & Reed Financial in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon forecasts that the asset manager will post earnings per share of $0.40 for the quarter. Jefferies Group currently has a “Hold” rating and a $20.00 target price on the stock. Jefferies Group also issued estimates for Waddell & Reed Financial’s Q2 2018 earnings at $0.40 EPS.
A number of other research analysts have also recently commented on the stock. BidaskClub raised shares of Waddell & Reed Financial from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Morgan Stanley reissued an “underweight” rating and set a $15.00 target price (up from $14.00) on shares of Waddell & Reed Financial in a research report on Monday, July 10th. ValuEngine cut shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Keefe, Bruyette & Woods raised shares of Waddell & Reed Financial from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $16.50 to $17.75 in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada started coverage on shares of Waddell & Reed Financial in a research report on Thursday, June 29th. They set an “underperform” rating and a $17.00 target price on the stock. Six investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.31.
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Shares of Waddell & Reed Financial (NYSE:WDR) opened at 19.93 on Wednesday. Waddell & Reed Financial has a one year low of $15.02 and a one year high of $22.45. The stock has a 50 day moving average of $18.90 and a 200-day moving average of $18.43. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 12.53 and a beta of 2.04.
Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.39 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $285.25 million. During the same period last year, the business earned $0.59 EPS. The company’s revenue was down 10.2% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 11th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, October 10th. This represents a $1.84 annualized dividend and a yield of 9.23%. Waddell & Reed Financial’s dividend payout ratio is presently 115.72%.
In related news, Director Alan W. Kosloff sold 25,076 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $19.40, for a total value of $486,474.40. Following the sale, the director now directly owns 71,873 shares of the company’s stock, valued at $1,394,336.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Benjamin R. Clouse sold 5,903 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 25,845 shares in the company, valued at $517,158.45. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings 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 in the last quarter. Vanguard Group Inc. raised its holdings in Waddell & Reed Financial by 11.5% in the second quarter. Vanguard Group Inc. now owns 7,596,348 shares of the asset manager’s stock valued at $143,419,000 after acquiring an additional 781,453 shares in the last quarter. FMR LLC raised its holdings in Waddell & Reed Financial by 73.2% in the second quarter. FMR LLC now owns 4,856,894 shares of the asset manager’s stock valued at $91,698,000 after acquiring an additional 2,052,378 shares in the last quarter. State Street Corp raised its holdings in Waddell & Reed Financial by 19.4% in the first quarter. State Street Corp now owns 3,481,236 shares of the asset manager’s stock valued at $59,185,000 after acquiring an additional 565,584 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in Waddell & Reed Financial by 35.4% in the second quarter. Schroder Investment Management Group now owns 2,930,633 shares of the asset manager’s stock valued at $56,209,000 after acquiring an additional 765,800 shares in the last quarter. 96.37% of the stock is currently owned by hedge funds and other institutional investors.
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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