Xact Kapitalforvaltning AB acquired a new position in shares of Waddell & Reed (NYSE:WDR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,032 shares of the asset manager’s stock, valued at approximately $224,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Waddell & Reed by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 37,889 shares of the asset manager’s stock valued at $846,000 after buying an additional 2,299 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Waddell & Reed by 14.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 29,859 shares of the asset manager’s stock valued at $594,000 after purchasing an additional 3,846 shares during the period. Assetmark Inc. bought a new stake in Waddell & Reed in the 4th quarter valued at about $103,000. Fisher Asset Management LLC boosted its holdings in Waddell & Reed by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,929,598 shares of the asset manager’s stock valued at $43,107,000 after purchasing an additional 5,515 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Waddell & Reed by 4.9% in the 3rd quarter. New York State Common Retirement Fund now owns 127,047 shares of the asset manager’s stock valued at $2,550,000 after purchasing an additional 5,916 shares during the period. Institutional investors own 97.43% of the company’s stock.
In other Waddell & Reed news, Director Jerry W. Walton sold 5,792 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.95, for a total value of $132,926.40. Following the completion of the transaction, the director now directly owns 81,332 shares in the company, valued at approximately $1,866,569.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.40% of the company’s stock.
Waddell & Reed (NYSE:WDR) last issued its quarterly earnings data on Tuesday, January 30th. The asset manager reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Waddell & Reed had a net margin of 10.72% and a return on equity of 16.63%. The business had revenue of $294.48 million during the quarter, compared to the consensus estimate of $286.55 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm’s revenue was up .5% compared to the same quarter last year. research analysts forecast that Waddell & Reed will post 2.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.91%. The ex-dividend date is Monday, April 9th. Waddell & Reed’s dividend payout ratio (DPR) is currently 52.08%.
A number of analysts have issued reports on WDR shares. Zacks Investment Research downgraded shares of Waddell & Reed from a “strong-buy” rating to a “hold” rating in a report on Friday, April 13th. Jefferies Group reissued a “hold” rating and issued a $23.00 price objective on shares of Waddell & Reed in a report on Thursday, January 11th. Citigroup raised shares of Waddell & Reed from a “sell” rating to a “neutral” rating and set a $24.00 price objective for the company in a report on Wednesday, January 31st. Bank of America set a $20.00 price target on shares of Waddell & Reed and gave the stock a “sell” rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada reaffirmed a “sell” rating and set a $20.00 price target on shares of Waddell & Reed in a report on Wednesday, January 31st. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.50.
Waddell & Reed Profile
Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.
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