Waddell & Reed Financial Inc. (NYSE:WDR) was downgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating in a report issued on Wednesday. They presently have a $18.00 price target on the stock, up from their prior price target of $16.50. Keefe, Bruyette & Woods’ price target suggests a potential downside of 4.66% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research raised Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Thursday, October 13th. Royal Bank Of Canada cut their price target on Waddell & Reed Financial from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Citigroup Inc. downgraded Waddell & Reed Financial from a “neutral” rating to a “sell” rating and cut their price target for the company from $17.00 to $14.50 in a report on Monday, October 17th. Jefferies Group reaffirmed a “hold” rating and set a $18.00 price target (down previously from $19.00) on shares of Waddell & Reed Financial in a report on Friday, October 28th. Finally, Credit Suisse Group AG reaffirmed a “sell” rating and set a $13.00 price target on shares of Waddell & Reed Financial in a report on Monday, November 7th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Waddell & Reed Financial presently has a consensus rating of “Hold” and a consensus price target of $20.95.

Analyst Recommendations for Waddell & Reed Financial (NYSE:WDR)

Shares of Waddell & Reed Financial (NYSE:WDR) opened at 18.88 on Wednesday. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 8.33 and a beta of 1.93. The firm has a 50-day moving average of $17.37 and a 200 day moving average of $18.39. Waddell & Reed Financial has a one year low of $15.02 and a one year high of $38.20.

Waddell & Reed Financial (NYSE:WDR) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.51 by $0.13. The company earned $303.09 million during the quarter, compared to the consensus estimate of $295.65 million. Waddell & Reed Financial had a return on equity of 25.38% and a net margin of 14.34%. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. Equities research analysts anticipate that Waddell & Reed Financial will post $1.81 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 11th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.75%. The ex-dividend date was Thursday, October 6th. Waddell & Reed Financial’s payout ratio is currently 81.06%.

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

5 Day Chart for NYSE:WDR

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