Ajo LP lowered its stake in shares of Waddell & Reed Financial Inc. (NYSE:WDR) by 96.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,920 shares of the company’s stock after selling 1,037,095 shares during the period. Ajo LP’s holdings in Waddell & Reed Financial were worth $705,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Zebra Capital Management LLC raised its stake in shares of Waddell & Reed Financial by 122.2% in the first quarter. Zebra Capital Management LLC now owns 63,833 shares of the company’s stock valued at $1,503,000 after buying an additional 35,106 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Waddell & Reed Financial during the first quarter valued at $4,402,000. Canada Pension Plan Investment Board raised its stake in shares of Waddell & Reed Financial by 24.2% in the first quarter. Canada Pension Plan Investment Board now owns 11,300 shares of the company’s stock valued at $266,000 after buying an additional 2,200 shares during the period. Burgundy Asset Management Ltd. raised its stake in shares of Waddell & Reed Financial by 175.2% in the first quarter. Burgundy Asset Management Ltd. now owns 968,643 shares of the company’s stock valued at $22,802,000 after buying an additional 616,663 shares during the period. Finally, BlackRock Fund Advisors raised its stake in shares of Waddell & Reed Financial by 187.5% in the first quarter. BlackRock Fund Advisors now owns 8,746,488 shares of the company’s stock valued at $205,892,000 after buying an additional 5,704,745 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Waddell & Reed Financial Inc. (NYSE:WDR) traded up 1.58% during trading on Thursday, hitting $17.96. 243,397 shares of the company traded hands. The stock has a 50 day moving average price of $18.55 and a 200 day moving average price of $20.07. The company has a market capitalization of $1.49 billion, a P/E ratio of 8.19 and a beta of 1.84. Waddell & Reed Financial Inc. has a 12-month low of $15.70 and a 12-month high of $38.85.

Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.11. Waddell & Reed Financial had a return on equity of 26.65% and a net margin of 13.16%. The business had revenue of $319.20 million for the quarter, compared to analysts’ expectations of $312.82 million. During the same period in the previous year, the business posted $0.80 EPS. The firm’s quarterly revenue was down 19.0% compared to the same quarter last year. On average, equities analysts anticipate that Waddell & Reed Financial Inc. will post $1.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 11th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 10.41%. The ex-dividend date is Thursday, October 6th. Waddell & Reed Financial’s dividend payout ratio is currently 83.64%.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research report on Monday, June 6th. Royal Bank Of Canada cut 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. Morgan Stanley reissued a “sell” rating and set a $17.00 price target on shares of Waddell & Reed Financial in a report on Thursday, July 28th. RBC Capital Markets set a $26.00 price target on shares of Waddell & Reed Financial and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Citigroup Inc. boosted their price objective on shares of Waddell & Reed Financial from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $23.73.

About Waddell & Reed Financial

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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