Waddell & Reed Financial Inc. (NYSE:WDR) dropped 4.6% on Thursday . The company traded as low as $15.91 and last traded at $15.92, with a volume of 813,974 shares changing hands. The stock had previously closed at $16.69.

WDR has been the subject of a number of recent research reports. Sandler O’Neill lowered their price objective on shares of Waddell & Reed Financial from $24.00 to $23.00 in a research report on Tuesday, April 12th. Zacks Investment Research raised shares of Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Piper Jaffray Cos. reissued a “neutral” rating and set a $25.00 target price (down from $28.00) on shares of Waddell & Reed Financial in a research note on Thursday, April 28th. Royal Bank Of Canada reissued an “outperform” rating and set a $29.00 target price (down from $32.00) on shares of Waddell & Reed Financial in a research note on Wednesday, April 27th. Finally, Morgan Stanley reissued a “sell” rating on shares of Waddell & Reed Financial in a research note on Wednesday, April 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.20.

The stock’s 50 day moving average price is $19.06 and its 200-day moving average price is $22.44. The stock has a market cap of $1.35 billion and a price-to-earnings ratio of 6.41.

Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, April 26th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by $0.11. The company had revenue of $385.46 million for the quarter, compared to analyst estimates of $332.27 million. During the same period in the prior year, the business earned $0.80 EPS. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. Equities research analysts forecast that Waddell & Reed Financial Inc. will post $1.94 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 11th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 11.08%. The ex-dividend date is Thursday, July 7th.

A number of large investors recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its stake in Waddell & Reed Financial by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 106,641 shares of the company’s stock valued at $3,056,000 after buying an additional 442 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Waddell & Reed Financial by 27.3% in the fourth quarter. Nationwide Fund Advisors now owns 216,922 shares of the company’s stock valued at $6,217,000 after buying an additional 46,554 shares during the last quarter. California State Teachers Retirement System boosted its stake in Waddell & Reed Financial by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 156,482 shares of the company’s stock valued at $4,485,000 after buying an additional 2,456 shares during the last quarter. Numeric Investors LLC boosted its stake 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 during the last quarter. Finally, First Trust Advisors LP boosted its stake in Waddell & Reed Financial by 46.3% in the fourth quarter. First Trust Advisors LP now owns 575,803 shares of the company’s stock valued at $16,503,000 after buying an additional 182,148 shares during 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.

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