State of Alaska Department of Revenue lessened its position in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,102 shares of the asset manager’s stock after selling 3,034 shares during the quarter. State of Alaska Department of Revenue owned about 0.08% of Waddell & Reed Financial worth $887,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Factorial Partners LLC lifted its stake in shares of Waddell & Reed Financial by 2.0% during the second quarter. Factorial Partners LLC now owns 51,000 shares of the asset manager’s stock valued at $850,000 after acquiring an additional 1,000 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Waddell & Reed Financial during the first quarter valued at $26,000. Leavell Investment Management Inc. lifted its stake in shares of Waddell & Reed Financial by 4.6% during the third quarter. Leavell Investment Management Inc. now owns 35,919 shares of the asset manager’s stock valued at $617,000 after acquiring an additional 1,571 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Waddell & Reed Financial during the third quarter valued at $30,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Waddell & Reed Financial by 12.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,332 shares of the asset manager’s stock valued at $280,000 after acquiring an additional 1,822 shares during the period.
In other Waddell & Reed Financial news, Director Jerry W. Walton sold 9,500 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.48, for a total value of $166,060.00. Following the transaction, the director now owns 69,327 shares of the company’s stock, valued at $1,211,835.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.13% of the company’s stock.
WDR has been the topic of several research reports. Evercore ISI lowered Waddell & Reed Financial from an “in-line” rating to an “underperform” rating in a research note on Tuesday, October 22nd. ValuEngine raised Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley cut their target price on Waddell & Reed Financial from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada reissued a “sell” rating and issued a $14.00 target price on shares of Waddell & Reed Financial in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $16.17.
NYSE:WDR opened at $16.83 on Friday. Waddell & Reed Financial, Inc. has a 1-year low of $14.91 and a 1-year high of $19.18. The business’s 50-day moving average price is $16.58 and its two-hundred day moving average price is $16.53. The company has a current ratio of 3.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.72 and a beta of 1.45.
Waddell & Reed Financial (NYSE:WDR) last released its earnings results on Tuesday, October 29th. The asset manager reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.07. Waddell & Reed Financial had a return on equity of 16.62% and a net margin of 13.57%. The firm had revenue of $270.70 million for the quarter, compared to analyst estimates of $266.84 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was down 8.3% on a year-over-year basis. Sell-side analysts predict that Waddell & Reed Financial, Inc. will post 1.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend is Friday, January 10th. Waddell & Reed Financial’s payout ratio is 43.86%.
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.
Further Reading: How Do You Calculate Return on Equity (ROE)?
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.