Waddell & Reed (NYSE:WDR) has received a consensus rating of “Sell” from the ten brokerages that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.29.
Several analysts recently weighed in on the company. Citigroup upgraded Waddell & Reed from a “sell” rating to a “neutral” rating and set a $24.00 price target on the stock in a report on Wednesday, January 31st. ValuEngine lowered Waddell & Reed from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Morgan Stanley increased their target price on Waddell & Reed from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 13th. Bank of America set a $20.00 target price on Waddell & Reed and gave the stock a “sell” rating in a research note on Tuesday, January 30th. Finally, Zacks Investment Research lowered Waddell & Reed from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 13th.
A number of hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in Waddell & Reed by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 37,889 shares of the asset manager’s stock valued at $846,000 after purchasing an additional 2,299 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Waddell & Reed by 7.9% in the first quarter. Thrivent Financial for Lutherans now owns 55,970 shares of the asset manager’s stock valued at $1,131,000 after buying an additional 4,077 shares during the last quarter. Swiss National Bank raised its stake in Waddell & Reed by 3.1% in the first quarter. Swiss National Bank now owns 145,500 shares of the asset manager’s stock valued at $2,941,000 after buying an additional 4,400 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Waddell & Reed by 12.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 39,572 shares of the asset manager’s stock valued at $800,000 after buying an additional 4,447 shares during the last quarter. Finally, Assetmark Inc. purchased a new stake in Waddell & Reed in the fourth quarter valued at about $103,000. 97.43% of the stock is currently owned by institutional investors.
Waddell & Reed (NYSE:WDR) last released its quarterly earnings results on Tuesday, May 1st. The asset manager reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Waddell & Reed had a return on equity of 17.97% and a net margin of 11.76%. The company had revenue of $297.60 million for the quarter, compared to analyst estimates of $288.38 million. During the same quarter in the prior year, the firm posted $0.40 EPS. Waddell & Reed’s quarterly revenue was up 3.9% compared to the same quarter last year. sell-side analysts expect that Waddell & Reed will post 2.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date was Monday, April 9th. Waddell & Reed’s payout ratio is currently 52.08%.
About Waddell & Reed
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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