Waddell & Reed Financial, Inc. (NYSE:WDR) Stock Rating Reaffirmed by Morgan Stanley
Waddell & Reed Financial, Inc. (NYSE:WDR)‘s stock had its “underweight” rating reaffirmed by analysts at Morgan Stanley in a research report issued on Monday, July 10th. They presently have a $15.00 target price on the asset manager’s stock, up from their prior target price of $14.00. Morgan Stanley’s price target points to a potential downside of 23.43% from the stock’s current price.
Several other research analysts also recently weighed in on WDR. Zacks Investment Research upgraded shares of Waddell & Reed Financial from a “sell” rating to a “hold” rating in a report on Monday, April 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $18.00 target price (down previously from $19.00) on shares of Waddell & Reed Financial in a report on Wednesday, April 12th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $16.50 target price on shares of Waddell & Reed Financial in a report on Friday, June 9th. BidaskClub upgraded shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Finally, ValuEngine upgraded shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.81.
Shares of Waddell & Reed Financial (NYSE WDR) traded up 1.761% during midday trading on Monday, reaching $19.935. 577,963 shares of the company were exchanged. The stock has a 50-day moving average price of $19.77 and a 200 day moving average price of $18.17. Waddell & Reed Financial has a 52-week low of $15.02 and a 52-week high of $22.45. The company has a market capitalization of $1.67 billion, a P/E ratio of 12.530 and a beta of 2.04.
Waddell & Reed Financial (NYSE:WDR) last released its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Waddell & Reed Financial had a net margin of 11.34% and a return on equity of 18.74%. The firm had revenue of $286.70 million for the quarter, compared to the consensus estimate of $285.25 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s revenue was down 10.2% on a year-over-year basis. Equities research analysts expect that Waddell & Reed Financial will post $1.47 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in Waddell & Reed Financial by 31.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,576 shares of the asset manager’s stock worth $107,000 after buying an additional 1,323 shares during the period. Advantus Capital Management Inc raised its position in Waddell & Reed Financial by 4.8% in the first quarter. Advantus Capital Management Inc now owns 10,790 shares of the asset manager’s stock worth $183,000 after buying an additional 498 shares during the period. Bridgecreek Investment Management LLC raised its position in Waddell & Reed Financial by 10.0% in the first quarter. Bridgecreek Investment Management LLC now owns 11,000 shares of the asset manager’s stock worth $187,000 after buying an additional 1,000 shares during the period. CIBC Asset Management Inc purchased a new position in Waddell & Reed Financial during the second quarter worth approximately $194,000. Finally, Tudor Investment Corp Et Al purchased a new position in Waddell & Reed Financial during the fourth quarter worth approximately $195,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.
Waddell & Reed Financial Company Profile
Waddell & Reed Financial, Inc, incorporated on December 24, 1981, is a holding company. The Company 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 (the Advisors Funds), Ivy Funds, Ivy Funds Variable Insurance Portfolios (Ivy Funds VIP), InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV (the SICAV) and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.
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