O Shaughnessy Asset Management LLC lifted its position in shares of Waddell & Reed (NYSE:WDR) by 12.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,572 shares of the asset manager’s stock after buying an additional 4,447 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Waddell & Reed were worth $800,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. acquired a new stake in shares of Waddell & Reed during the fourth quarter worth $103,000. IFG Advisory LLC acquired a new stake in shares of Waddell & Reed during the fourth quarter worth $563,000. Contravisory Investment Management Inc. acquired a new stake in shares of Waddell & Reed during the fourth quarter worth $161,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Waddell & Reed during the fourth quarter worth $224,000. Finally, Elkfork Partners LLC acquired a new stake in shares of Waddell & Reed during the fourth quarter worth $234,000. 97.43% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on WDR. Citigroup raised Waddell & Reed from a “sell” rating to a “neutral” rating and set a $24.00 target price for the company in a report on Wednesday, January 31st. ValuEngine raised Waddell & Reed from a “sell” rating to a “hold” rating in a report on Thursday. Morgan Stanley boosted their price target on Waddell & Reed from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Tuesday, February 13th. Bank of America set a $20.00 price target on Waddell & Reed and gave the company a “sell” rating in a research note on Tuesday, January 30th. Finally, Zacks Investment Research downgraded Waddell & Reed from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 13th. Five investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $20.75.
Waddell & Reed (NYSE:WDR) last posted its quarterly earnings results on Tuesday, May 1st. The asset manager reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. The business had revenue of $297.60 million during the quarter, compared to the consensus estimate of $288.38 million. Waddell & Reed had a return on equity of 17.97% and a net margin of 11.76%. Waddell & Reed’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. sell-side analysts predict that Waddell & Reed will post 2.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Monday, April 9th. Waddell & Reed’s dividend payout ratio (DPR) is presently 52.08%.
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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