Citigroup Inc. cut shares of Waddell & Reed Financial Inc. (NYSE:WDR) from a neutral rating to a sell rating in a report released on Monday morning. Citigroup Inc. currently has $14.50 target price on the stock, down from their prior target price of $17.00.

A number of other research firms have also weighed in on WDR. RBC Capital Markets set a $26.00 price target on shares of Waddell & Reed Financial and gave the stock a buy rating in a research report on Wednesday, July 27th. Jefferies Group restated a hold rating and set a $18.00 price target (down from $23.00) on shares of Waddell & Reed Financial in a research report on Monday, July 11th. Morgan Stanley restated a sell rating and set a $17.00 price target on shares of Waddell & Reed Financial in a research report on Thursday, July 28th. Zacks Investment Research lowered shares of Waddell & Reed Financial from a hold rating to a sell rating in a research report on Friday, July 8th. Finally, Royal Bank Of Canada reduced their target price on shares of Waddell & Reed Financial from $29.00 to $26.00 and set an outperform rating on the stock in a research note on Wednesday, July 27th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $22.41.

Waddell & Reed Financial (NYSE:WDR) opened at 17.22 on Monday. The stock’s 50 day moving average is $18.00 and its 200-day moving average is $19.20. Waddell & Reed Financial has a 1-year low of $15.70 and a 1-year high of $38.85. The company has a market capitalization of $1.43 billion, a P/E ratio of 7.85 and a beta of 1.78.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.11. The firm had revenue of $319.20 million for the quarter, compared to analyst estimates of $312.82 million. Waddell & Reed Financial had a net margin of 13.16% and a return on equity of 26.65%. Waddell & Reed Financial’s quarterly revenue was down 19.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. On average, analysts expect that Waddell & Reed Financial will post $1.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 11th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 10.90%. The ex-dividend date of this dividend is Thursday, October 6th. Waddell & Reed Financial’s payout ratio is 83.64%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. MSI Financial Services Inc boosted its position in shares of Waddell & Reed Financial by 1.5% in the third quarter. MSI Financial Services Inc now owns 5,837 shares of the company’s stock valued at $106,000 after buying an additional 89 shares during the last quarter. State Treasurer State of Michigan boosted its stake in shares of Waddell & Reed Financial by 0.3% in the second quarter. State Treasurer State of Michigan now owns 32,700 shares of the company’s stock worth $563,000 after buying an additional 100 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Waddell & Reed Financial by 0.6% in the second quarter. Mutual of America Capital Management LLC now owns 58,787 shares of the company’s stock worth $1,012,000 after buying an additional 373 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Waddell & Reed Financial by 0.6% in the first quarter. Aperio Group LLC now owns 75,291 shares of the company’s stock worth $1,772,000 after buying an additional 431 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Waddell & Reed Financial by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 28,534 shares of the company’s stock worth $518,000 after buying an additional 562 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Waddell & Reed Financial Company Profile

Waddell & Reed Financial, Inc 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, Ivy Funds, Ivy Funds Variable Insurance Portfolios, InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.

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