Waddell & Reed Financial, Inc. (WDR) Given Average Rating of “Sell” by Analysts

Shares of Waddell & Reed Financial, Inc. (NYSE:WDR) have received a consensus rating of “Sell” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $20.29.

Several research analysts recently issued reports on WDR shares. Zacks Investment Research cut Waddell & Reed Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 13th. ValuEngine raised Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 17th. Citigroup dropped their price objective on Waddell & Reed Financial from $19.50 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 2nd. Finally, Morgan Stanley dropped their price objective on Waddell & Reed Financial from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 10th.

Waddell & Reed Financial traded up $0.07, hitting $19.38, during midday trading on Thursday, MarketBeat Ratings reports. The stock had a trading volume of 594,090 shares, compared to its average volume of 1,190,984. Waddell & Reed Financial has a one year low of $17.53 and a one year high of $23.82. The stock has a market cap of $1.66 billion, a P/E ratio of 10.09 and a beta of 1.92. The company has a quick ratio of 1.59, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings data on Tuesday, May 1st. The asset manager reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. Waddell & Reed Financial 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 analysts’ expectations of $288.38 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Waddell & Reed Financial’s revenue was up 3.9% compared to the same quarter last year. sell-side analysts anticipate that Waddell & Reed Financial will post 2.11 EPS for the current fiscal year.

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

Institutional investors have recently bought and sold shares of the business. Assetmark Inc. purchased a new stake in Waddell & Reed Financial during the fourth quarter worth $103,000. Stratos Wealth Partners LTD. lifted its holdings in Waddell & Reed Financial by 298.0% during the first quarter. Stratos Wealth Partners LTD. now owns 8,816 shares of the asset manager’s stock worth $178,000 after buying an additional 6,601 shares during the period. Xact Kapitalforvaltning AB purchased a new stake in Waddell & Reed Financial during the fourth quarter worth $224,000. Elkfork Partners LLC purchased a new stake in Waddell & Reed Financial during the fourth quarter worth $234,000. Finally, MANA Advisors LLC purchased a new stake in Waddell & Reed Financial during the fourth quarter worth $238,000. Institutional investors own 98.85% of the company’s stock.

About Waddell & Reed Financial

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.

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

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