Waddell & Reed Financial’s (WDR) Hold Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their hold rating on shares of Waddell & Reed Financial, Inc. (NYSE:WDR) in a research note issued to investors on Thursday, October 26th. They currently have a $21.00 target price on the asset manager’s stock.

A number of other research firms have also weighed in on WDR. Royal Bank Of Canada set a $18.00 price objective on shares of Waddell & Reed Financial and gave the stock a sell rating in a research note on Wednesday, October 18th. Jefferies Group LLC reaffirmed a hold rating and issued a $19.00 price objective (down from $20.00) on shares of Waddell & Reed Financial in a research note on Wednesday, August 2nd. Morgan Stanley reaffirmed an underweight rating and issued a $15.00 price objective (up from $14.00) on shares of Waddell & Reed Financial in a research note on Monday, July 10th. Bank of America Corporation upped their price objective on shares of Waddell & Reed Financial from $17.00 to $18.00 and gave the stock an underperform rating in a research note on Wednesday, October 25th. Finally, ValuEngine raised shares of Waddell & Reed Financial from a hold rating to a buy rating in a research note on Monday, October 2nd. Six 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’s stock. The company currently has a consensus rating of Hold and an average target price of $19.00.

Shares of Waddell & Reed Financial (WDR) traded up $0.13 on Thursday, hitting $19.39. 613,651 shares of the stock were exchanged, compared to its average volume of 1,248,616. Waddell & Reed Financial has a 1 year low of $16.11 and a 1 year high of $22.45. The stock has a market capitalization of $1,605.73, a price-to-earnings ratio of 11.26 and a beta of 2.09. 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 released its quarterly earnings data on Tuesday, October 24th. The asset manager reported $0.45 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $285.30 million. During the same period in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. equities analysts forecast that Waddell & Reed Financial will post 1.52 EPS for the current year.

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The company also recently declared 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 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Wednesday, January 10th. Waddell & Reed Financial’s payout ratio is 132.38%.

Several hedge funds have recently added to or reduced their stakes in WDR. Russell Investments Group Ltd. lifted its position in shares of Waddell & Reed Financial by 8.4% during the first quarter. Russell Investments Group Ltd. now owns 31,450 shares of the asset manager’s stock valued at $535,000 after buying an additional 2,425 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Waddell & Reed Financial by 28.8% during the first quarter. UBS Asset Management Americas Inc. now owns 87,469 shares of the asset manager’s stock valued at $1,487,000 after acquiring an additional 19,565 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Waddell & Reed Financial by 14.7% during the first quarter. Ameriprise Financial Inc. now owns 279,395 shares of the asset manager’s stock valued at $4,750,000 after acquiring an additional 35,876 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Waddell & Reed Financial by 54.2% during the first quarter. Victory Capital Management Inc. now owns 21,637 shares of the asset manager’s stock valued at $368,000 after acquiring an additional 7,606 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Waddell & Reed Financial by 75.3% during the first quarter. Alliancebernstein L.P. now owns 239,996 shares of the asset manager’s stock valued at $4,080,000 after acquiring an additional 103,110 shares in the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

About Waddell & Reed Financial

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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