Waddell & Reed Financial Inc. (NYSE:WDR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $16.76, but opened at $17.05. Waddell & Reed Financial shares last traded at $17.91, with a volume of 1,114,079 shares.

Several research firms have issued reports on WDR. Citigroup Inc. upgraded Waddell & Reed Financial from a “sell” rating to a “neutral” rating in a research note on Tuesday. Jefferies Group restated a “hold” rating and set a $18.00 target price (down previously from $23.00) on shares of Waddell & Reed Financial in a report on Monday. Zacks Investment Research cut Waddell & Reed Financial from a “hold” rating to a “sell” rating in a report on Friday. Royal Bank Of Canada decreased their target price on Waddell & Reed Financial from $49.00 to $44.00 and set an “outperform” rating on the stock in a report on Wednesday, June 1st. Finally, Piper Jaffray Cos. restated a “neutral” rating and set a $25.00 target price (down previously from $28.00) on shares of Waddell & Reed Financial in a report on Thursday, April 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $25.60.

The company has a market cap of $1.47 billion and a PE ratio of 6.95. The firm’s 50-day moving average is $18.92 and its 200-day moving average is $22.22.

Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings data on Tuesday, April 26th. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.11. The business earned $385.46 million during the quarter, compared to analysts’ expectations of $332.27 million. Waddell & Reed Financial’s quarterly revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. On average, equities research analysts expect 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 issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $1.84 annualized dividend and a yield of 10.22%.

A number of institutional investors recently made changes to their positions in WDR. Liberty Mutual Group Asset Management Inc. boosted its position in shares of 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. TrimTabs Asset Management LLC bought a new position in shares of Waddell & Reed Financial during the fourth quarter valued at $1,794,000. Numeric Investors LLC boosted its position in shares of 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 boosted its position in shares of 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. Finally, Regal Investment Advisors LLC boosted its position in shares of 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.

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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