GAM Holding AG reduced its stake in Waddell & Reed Financial, Inc. (NYSE:WDR) by 23.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,770 shares of the asset manager’s stock after selling 18,818 shares during the period. GAM Holding AG owned 0.08% of Waddell & Reed Financial worth $1,110,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Foresters Investment Management Company Inc. boosted its position in shares of Waddell & Reed Financial by 1.3% during the first quarter. Foresters Investment Management Company Inc. now owns 854,800 shares of the asset manager’s stock worth $17,276,000 after buying an additional 11,200 shares during the period. Wells Fargo & Company MN boosted its position in shares of Waddell & Reed Financial by 7.6% during the first quarter. Wells Fargo & Company MN now owns 191,842 shares of the asset manager’s stock worth $3,877,000 after buying an additional 13,606 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Waddell & Reed Financial during the first quarter worth approximately $1,230,000. Heartland Advisors Inc. acquired a new position in shares of Waddell & Reed Financial during the first quarter worth approximately $2,591,000. Finally, Cambria Investment Management L.P. acquired a new position in shares of Waddell & Reed Financial during the second quarter worth approximately $1,458,000. Institutional investors own 98.26% of the company’s stock.

Several brokerages have recently issued reports on WDR. ValuEngine upgraded Waddell & Reed Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 8th. Zacks Investment Research downgraded Waddell & Reed Financial from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $23.00 price objective on shares of Waddell & Reed Financial in a research report on Wednesday, August 1st. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Sell” and a consensus price target of $20.63.

Shares of NYSE WDR opened at $20.13 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.99 and a quick ratio of 1.75. The company has a market cap of $1.64 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.25 and a beta of 1.90. Waddell & Reed Financial, Inc. has a 12-month low of $17.53 and a 12-month high of $23.82.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Wednesday, July 11th were given a $0.25 dividend. The ex-dividend date was Tuesday, July 10th. This represents a $1.00 dividend on an annualized basis and a yield of 4.97%. Waddell & Reed Financial’s dividend payout ratio (DPR) is 52.08%.

In other Waddell & Reed Financial news, Director James M. Raines sold 2,640 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $19.93, for a total value of $52,615.20. Following the completion of the sale, the director now directly owns 24,826 shares in the company, valued at $494,782.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.40% 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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Institutional Ownership by Quarter for Waddell & Reed Financial (NYSE:WDR)

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