Bank of America cut shares of Waddell & Reed Financial (NYSE:WDR) from a neutral rating to an underperform rating in a report released on Friday, BenzingaRatingsTable reports. The firm currently has $17.00 target price on the asset manager’s stock.
A number of other research firms have also recently commented on WDR. Evercore ISI set a $17.00 price objective on Waddell & Reed Financial and gave the company a hold rating in a report on Monday, August 12th. Citigroup set a $15.00 price objective on Waddell & Reed Financial and gave the company a sell rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $16.86.
WDR opened at $17.83 on Friday. Waddell & Reed Financial has a one year low of $15.09 and a one year high of $21.63. The stock has a market capitalization of $1.32 billion, a PE ratio of 7.82, a P/E/G ratio of 4.30 and a beta of 1.44. The business’s 50 day moving average price is $16.44 and its 200 day moving average price is $17.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 3.78.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its position in Waddell & Reed Financial by 15.5% in the second quarter. Royal Bank of Canada now owns 41,151 shares of the asset manager’s stock valued at $686,000 after purchasing an additional 5,518 shares during the period. Verition Fund Management LLC purchased a new stake in Waddell & Reed Financial in the second quarter valued at approximately $170,000. Factorial Partners LLC raised its position in Waddell & Reed Financial by 2.0% in the second quarter. Factorial Partners LLC now owns 51,000 shares of the asset manager’s stock valued at $850,000 after purchasing an additional 1,000 shares during the period. Schroder Investment Management Group raised its position in Waddell & Reed Financial by 189.2% in the second quarter. Schroder Investment Management Group now owns 45,988 shares of the asset manager’s stock valued at $767,000 after purchasing an additional 30,088 shares during the period. Finally, Nuveen Asset Management LLC purchased a new stake in Waddell & Reed Financial in the second quarter valued at approximately $5,072,000.
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.
Read More: Capital gains and your 401(k) or IRA
Receive News & Ratings for Waddell & Reed Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waddell & Reed Financial and related companies with MarketBeat.com's FREE daily email newsletter.