Profund Advisors LLC lowered its stake in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 26.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,261 shares of the asset manager’s stock after selling 4,676 shares during the quarter. Profund Advisors LLC’s holdings in Waddell & Reed Financial were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WDR. BlackRock Inc. increased its position in Waddell & Reed Financial by 23,010.1% during the first quarter. BlackRock Inc. now owns 16,672,997 shares of the asset manager’s stock worth $283,440,000 after acquiring an additional 16,600,851 shares during the period. Dimensional Fund Advisors LP increased its position in Waddell & Reed Financial by 119.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,003,501 shares of the asset manager’s stock worth $34,059,000 after acquiring an additional 1,091,695 shares during the period. Schroder Investment Management Group increased its position in Waddell & Reed Financial by 35.4% during the second quarter. Schroder Investment Management Group now owns 2,930,633 shares of the asset manager’s stock worth $56,209,000 after acquiring an additional 765,800 shares during the period. State Street Corp increased its position in Waddell & Reed Financial by 19.4% during the first quarter. State Street Corp now owns 3,481,236 shares of the asset manager’s stock worth $59,185,000 after acquiring an additional 565,584 shares during the period. Finally, Vanguard Group Inc. increased its position in Waddell & Reed Financial by 5.8% during the first quarter. Vanguard Group Inc. now owns 6,814,895 shares of the asset manager’s stock worth $115,853,000 after acquiring an additional 374,949 shares during the period. 96.37% of the stock is currently owned by institutional investors and hedge funds.

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, beating 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 business had revenue of $286.70 million during the quarter, compared to the consensus estimate of $285.25 million. During the same quarter last year, the firm posted $0.59 EPS. The company’s quarterly revenue was down 10.2% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 11th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 9.06%. The ex-dividend date of this dividend is Tuesday, October 10th. Waddell & Reed Financial’s dividend payout ratio is 115.72%.

A number of brokerages recently issued reports on WDR. Zacks Investment Research lowered shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Thursday. BidaskClub lowered shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 target price on shares of Waddell & Reed Financial in a research report on Thursday, August 3rd. Credit Suisse Group dropped their target price on shares of Waddell & Reed Financial from $19.00 to $18.00 and set an “underperform” rating on the stock in a research report on Friday, August 11th. Finally, Jefferies Group LLC boosted their target price on shares of Waddell & Reed Financial from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $18.31.

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In other Waddell & Reed Financial news, VP Benjamin R. Clouse sold 5,903 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $20.01, for a total transaction of $118,119.03. Following the completion of the sale, the vice president now owns 25,845 shares of the company’s stock, valued at approximately $517,158.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan W. Kosloff sold 25,076 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $19.40, for a total value of $486,474.40. Following the sale, the director now directly owns 71,873 shares of the company’s stock, valued at approximately $1,394,336.20. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Waddell & Reed Financial 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.

Institutional Ownership by Quarter for Waddell & Reed Financial (NYSE:WDR)

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