Waddell & Reed Financial, Inc. (WDR) Price Target Raised to $20.00 at Jefferies Group LLC
Waddell & Reed Financial, Inc. (NYSE:WDR) had its target price lifted by Jefferies Group LLC from $19.00 to $20.00 in a report released on Tuesday morning. Jefferies Group LLC currently has a hold rating on the asset manager’s stock. Jefferies Group also issued estimates for Waddell & Reed Financial’s Q1 2018 earnings at $0.40 EPS and Q2 2018 earnings at $0.40 EPS.
Several other equities research analysts also recently issued reports on WDR. Keefe, Bruyette & Woods upgraded Waddell & Reed Financial from an underperform rating to a market perform rating and increased their price target for the stock from $16.50 to $17.75 in a report on Wednesday, June 14th. BidaskClub raised Waddell & Reed Financial from a hold rating to a buy rating in a research report on Thursday, June 15th. ValuEngine raised Waddell & Reed Financial from a hold rating to a buy rating in a research report on Tuesday, June 20th. Royal Bank Of Canada began coverage on Waddell & Reed Financial in a research report on Thursday, June 29th. They set an underperform rating and a $17.00 price objective for the company. Finally, Morgan Stanley reaffirmed an underweight rating and set a $15.00 price objective (up from $14.00) on shares of Waddell & Reed Financial in a research report on Monday, July 10th. Six equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Waddell & Reed Financial presently has an average rating of Hold and a consensus target price of $18.31.
Shares of Waddell & Reed Financial (NYSE:WDR) opened at 19.85 on Tuesday. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 12.48 and a beta of 2.04. Waddell & Reed Financial has a 12 month low of $15.02 and a 12 month high of $22.45. The firm’s 50-day moving average price is $18.90 and its 200-day moving average price is $18.43.
Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Waddell & Reed Financial had a return on equity of 18.75% and a net margin of 11.34%. The company had revenue of $286.70 million during the quarter, compared to the consensus estimate of $285.25 million. During the same period in the prior year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Waddell & Reed Financial will post $1.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 11th will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, October 10th. This represents a $1.84 annualized dividend and a yield of 9.23%. Waddell & Reed Financial’s dividend payout ratio (DPR) is presently 115.72%.
In related news, Director Alan W. Kosloff sold 25,076 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $19.40, for a total transaction of $486,474.40. Following the completion of the transaction, the director now directly owns 71,873 shares of the company’s stock, valued at $1,394,336.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Benjamin R. Clouse sold 5,903 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $20.01, for a total value of $118,119.03. Following the transaction, the vice president now directly owns 25,845 shares of the company’s stock, valued at $517,158.45. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC boosted its position in Waddell & Reed Financial by 79.0% during the second quarter. Riverhead Capital Management LLC now owns 6,624 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 2,924 shares during the last quarter. Flinton Capital Management LLC boosted its position in Waddell & Reed Financial by 80.3% during the second quarter. Flinton Capital Management LLC now owns 9,010 shares of the asset manager’s stock valued at $170,000 after purchasing an additional 4,012 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Waddell & Reed Financial during the second quarter valued at approximately $173,000. CIBC Asset Management Inc acquired a new position in Waddell & Reed Financial during the second quarter valued at approximately $194,000. Finally, Advantus Capital Management Inc boosted its position in Waddell & Reed Financial by 4.8% during the first quarter. Advantus Capital Management Inc now owns 10,790 shares of the asset manager’s stock valued at $183,000 after purchasing an additional 498 shares during the last quarter. 96.37% of the stock is owned by hedge funds and other institutional investors.
About Waddell & Reed Financial
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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