Waddell & Reed Financial Inc. (NYSE:WDR) rose 5.3% during mid-day trading on Friday . The company traded as high as $19.57 and last traded at $19.56, with a volume of 679,353 shares. The stock had previously closed at $18.58.

WDR has been the topic of a number of analyst reports. Sandler O’Neill dropped their price objective on Waddell & Reed Financial from $24.00 to $23.00 in a research note on Tuesday, April 12th. RBC Capital Markets set a $26.00 price objective on Waddell & Reed Financial and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, April 13th. Jefferies Group reiterated a “hold” rating and set a $18.00 price objective (down previously from $23.00) on shares of Waddell & Reed Financial in a research note on Monday, July 11th. Finally, Citigroup Inc. upgraded Waddell & Reed Financial from a “sell” rating to a “neutral” rating and set a $16.00 price objective on the stock in a research note on Tuesday, July 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $23.73.

The company’s 50-day moving average price is $17.89 and its 200 day moving average price is $21.31. The stock has a market cap of $1.61 billion and a PE ratio of 8.88.

Waddell & Reed Financial (NYSE:WDR) last issued its earnings results on Tuesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.11. The firm earned $319.20 million during the quarter, compared to the consensus estimate of $312.82 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. On average, equities research analysts predict that Waddell & Reed Financial Inc. will post $1.87 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were paid a $0.46 dividend. The ex-dividend date was Thursday, July 7th. This represents a $1.84 annualized dividend and a dividend yield of 9.45%.

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in shares of Waddell & Reed Financial by 8.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,208,590 shares of the company’s stock valued at $34,638,000 after buying an additional 93,609 shares during the last quarter. Morgan Stanley raised its stake in shares of Waddell & Reed Financial by 145.3% in the fourth quarter. Morgan Stanley now owns 814,126 shares of the company’s stock valued at $23,332,000 after buying an additional 482,211 shares during the last quarter. Hodges Capital Management Inc. raised its stake in shares of Waddell & Reed Financial by 42.3% in the fourth quarter. Hodges Capital Management Inc. now owns 641,731 shares of the company’s stock valued at $18,392,000 after buying an additional 190,761 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Waddell & Reed Financial by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 267,175 shares of the company’s stock valued at $7,657,000 after buying an additional 6,483 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Waddell & Reed Financial by 5.3% in the fourth quarter. California Public Employees Retirement System now owns 230,434 shares of the company’s stock valued at $6,604,000 after buying an additional 11,600 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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