Waddell & Reed Financial Inc. (NYSE:WDR)’s share price fell 4.6% during mid-day trading on Thursday . The stock traded as low as $15.91 and last traded at $15.92, with a volume of 813,974 shares trading hands. The stock had previously closed at $16.69.

Several brokerages have recently issued reports on WDR. Royal Bank Of Canada reduced their price target on shares of Waddell & Reed Financial from $49.00 to $44.00 and set an “outperform” rating for the company in a report on Wednesday, June 1st. Sandler O’Neill reduced their price target on shares of Waddell & Reed Financial from $24.00 to $23.00 in a report on Tuesday, April 12th. Piper Jaffray Cos. reissued a “neutral” rating and set a $25.00 price target (down previously from $28.00) on shares of Waddell & Reed Financial in a report on Thursday, April 28th. Zacks Investment Research downgraded shares of Waddell & Reed Financial from a “hold” rating to a “sell” rating in a report on Friday, April 29th. Finally, Morgan Stanley reissued a “sell” rating on shares of Waddell & Reed Financial in a report on Wednesday, April 27th. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $26.20.

The firm has a market cap of $1.30 billion and a PE ratio of 6.16. The company has a 50 day moving average of $19.25 and a 200 day moving average of $22.58.

Waddell & Reed Financial (NYSE:WDR) last issued its earnings results on Tuesday, April 26th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by $0.11. During the same period last year, the firm earned $0.80 EPS. The company earned $385.46 million during the quarter, compared to analyst estimates of $332.27 million. The company’s quarterly revenue was down 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Waddell & Reed Financial Inc. will post $1.94 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Monday, July 11th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 11.52%.

A number of hedge funds and institutional investors recently added to or reduced their stakes in WDR. Liberty Mutual Group Asset Management Inc. raised its position in Waddell & Reed Financial by 49.7% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 53,403 shares of the company’s stock valued at $1,531,000 after buying an additional 17,723 shares in the last quarter. Numeric Investors LLC raised its position in Waddell & Reed Financial by 70.8% in the fourth quarter. Numeric Investors LLC now owns 65,400 shares of the company’s stock valued at $1,874,000 after buying an additional 27,100 shares in the last quarter. Stevens Capital Management LP raised its position in Waddell & Reed Financial by 758.8% in the fourth quarter. Stevens Capital Management LP now owns 76,263 shares of the company’s stock valued at $2,186,000 after buying an additional 67,383 shares in the last quarter. Regal Investment Advisors LLC raised its position in Waddell & Reed Financial by 13.8% in the fourth quarter. Regal Investment Advisors LLC now owns 81,292 shares of the company’s stock valued at $2,329,000 after buying an additional 9,875 shares in the last quarter. Finally, Trexquant Investment LP raised its position in Waddell & Reed Financial by 309.1% in the fourth quarter. Trexquant Investment LP now owns 92,459 shares of the company’s stock valued at $2,650,000 after buying an additional 69,859 shares in the last quarter.

Waddell & Reed Financial, Inc is a mutual fund and asset management company. The Company provides investment management, investment advisory, investment product underwriting and distribution and shareholder services administration to Waddell & Reed Advisors group of mutual funds, Ivy Funds, Ivy Funds Variable Insurance Portfolios, InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.