Keefe, Bruyette & Woods reaffirmed their sell rating on shares of Waddell & Reed Financial Inc. (NYSE:WDR) in a report issued on Wednesday morning. The firm currently has a $18.00 price objective on the stock, up from their previous price objective of $16.50.

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada lowered their price objective on Waddell & Reed Financial from $29.00 to $26.00 and set an outperform rating for the company in a research report on Wednesday, July 27th. RBC Capital Markets set a $26.00 price objective on Waddell & Reed Financial and gave the stock a buy rating in a research report on Wednesday, July 27th. Zacks Investment Research raised Waddell & Reed Financial from a sell rating to a hold rating in a research report on Monday, August 1st. Citigroup Inc. raised their price objective on Waddell & Reed Financial from $16.00 to $17.00 and gave the stock a neutral rating in a research report on Wednesday, July 27th. Finally, Morgan Stanley reissued a sell rating and issued a $17.00 price objective on shares of Waddell & Reed Financial in a research report on Thursday, July 28th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $20.95.

Shares of Waddell & Reed Financial (NYSE:WDR) traded down 0.94% during mid-day trading on Wednesday, reaching $18.96. The company’s stock had a trading volume of 404,573 shares. Waddell & Reed Financial has a 12-month low of $15.02 and a 12-month high of $38.20. The firm has a market cap of $1.57 billion, a P/E ratio of 8.37 and a beta of 1.93. The firm’s 50-day moving average price is $17.37 and its 200 day moving average price is $18.39.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.13. The firm earned $303.09 million during the quarter, compared to analysts’ expectations of $295.65 million. Waddell & Reed Financial had a return on equity of 25.38% and a net margin of 14.34%. The business’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. On average, analysts expect that Waddell & Reed Financial will post $1.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 11th were paid a $0.46 dividend. The ex-dividend date was Thursday, October 6th. This represents a $1.84 annualized dividend and a dividend yield of 9.61%. Waddell & Reed Financial’s dividend payout ratio is presently 81.06%.

Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of Waddell & Reed Financial by 23.4% in the third quarter. BlackRock Fund Advisors now owns 11,133,514 shares of the company’s stock valued at $202,185,000 after buying an additional 2,114,728 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Waddell & Reed Financial by 2.0% in the second quarter. Vanguard Group Inc. now owns 5,722,165 shares of the company’s stock valued at $98,536,000 after buying an additional 113,873 shares in the last quarter. State Street Corp raised its position in shares of Waddell & Reed Financial by 19.1% in the second quarter. State Street Corp now owns 2,864,834 shares of the company’s stock valued at $49,329,000 after buying an additional 459,301 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Waddell & Reed Financial by 155.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,724,685 shares of the company’s stock valued at $46,919,000 after buying an additional 1,656,992 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Waddell & Reed Financial by 23.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,620,943 shares of the company’s stock valued at $47,596,000 after buying an additional 490,116 shares in the last quarter. Hedge funds and other institutional investors own 86.24% of the company’s stock.

About Waddell & Reed Financial

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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