ValuEngine upgraded shares of Waddell & Reed Financial (NYSE:WDR) from a strong sell rating to a sell rating in a report issued on Wednesday morning.

Several other research analysts have also issued reports on WDR. Zacks Investment Research upgraded shares of Waddell & Reed Financial from a sell rating to a hold rating in a research report on Wednesday, June 20th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $23.00 target price on shares of Waddell & Reed Financial in a research report on Wednesday, August 1st. Morgan Stanley cut their target price on shares of Waddell & Reed Financial from $21.00 to $19.00 and set an underweight rating for the company in a research report on Tuesday, April 10th. Finally, Citigroup cut their target price on shares of Waddell & Reed Financial from $19.50 to $18.00 and set a neutral rating for the company in a research report on Wednesday, May 2nd. Six research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of Sell and an average target price of $20.63.

Shares of Waddell & Reed Financial traded down $0.32, reaching $20.24, during mid-day trading on Wednesday, according to Marketbeat. 590,335 shares of the stock traded hands, compared to its average volume of 924,946. The firm has a market capitalization of $1.66 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 1.26 and a beta of 1.90. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.99 and a quick ratio of 1.59. Waddell & Reed Financial has a 1 year low of $17.53 and a 1 year high of $23.82.

Waddell & Reed Financial (NYSE:WDR) last released its quarterly earnings results on Tuesday, July 31st. The asset manager reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The firm had revenue of $295.34 million during the quarter, compared to analyst estimates of $288.92 million. Waddell & Reed Financial had a net margin of 13.47% and a return on equity of 19.29%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. analysts expect that Waddell & Reed Financial will post 2.2 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Wednesday, July 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, July 10th. This represents a $1.00 annualized dividend and a yield of 4.94%. Waddell & Reed Financial’s dividend payout ratio (DPR) is presently 52.08%.

In related news, Director James M. Raines sold 2,640 shares of the company’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $19.93, for a total value of $52,615.20. Following the completion of the transaction, the director now directly owns 24,826 shares in the company, valued at $494,782.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Neuburgh Advisers LLC lifted its stake in Waddell & Reed Financial by 34.2% in the second quarter. Neuburgh Advisers LLC now owns 11,044 shares of the asset manager’s stock worth $198,000 after purchasing an additional 2,816 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Waddell & Reed Financial by 34.0% in the second quarter. Riverhead Capital Management LLC now owns 12,621 shares of the asset manager’s stock worth $227,000 after purchasing an additional 3,200 shares during the last quarter. Tyers Asset Management LLC lifted its stake in Waddell & Reed Financial by 34.2% in the second quarter. Tyers Asset Management LLC now owns 14,056 shares of the asset manager’s stock worth $253,000 after purchasing an additional 3,584 shares during the last quarter. FMR LLC lifted its stake in Waddell & Reed Financial by 10.0% in the second quarter. FMR LLC now owns 4,691,739 shares of the asset manager’s stock worth $84,311,000 after purchasing an additional 424,816 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Waddell & Reed Financial by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,336,488 shares of the asset manager’s stock worth $59,957,000 after purchasing an additional 245,242 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Waddell & Reed Financial Company Profile

Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.

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

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