Waddell & Reed Financial, Inc. (WDR) Position Boosted by Donald L. Hagan LLC
Donald L. Hagan LLC boosted its stake in Waddell & Reed Financial, Inc. (NYSE:WDR) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,588 shares of the asset manager’s stock after buying an additional 582 shares during the period. Donald L. Hagan LLC’s holdings in Waddell & Reed Financial were worth $707,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Waddell & Reed Financial by 31.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,576 shares of the asset manager’s stock worth $107,000 after buying an additional 1,323 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in shares of Waddell & Reed Financial during the fourth quarter worth approximately $195,000. Ancora Advisors LLC bought a new position in shares of Waddell & Reed Financial during the fourth quarter worth approximately $215,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Waddell & Reed Financial during the fourth quarter worth approximately $225,000. Finally, Zweig DiMenna Associates LLC bought a new position in shares of Waddell & Reed Financial during the third quarter worth approximately $240,000. 82.97% of the stock is currently owned by institutional investors.
Shares of Waddell & Reed Financial, Inc. (NYSE:WDR) traded up 0.76% during mid-day trading on Tuesday, hitting $17.21. The company’s stock had a trading volume of 1,351,676 shares. The company has a 50-day moving average of $17.47 and a 200 day moving average of $18.33. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 9.68 and a beta of 1.99. Waddell & Reed Financial, Inc. has a 1-year low of $15.02 and a 1-year high of $23.59.
Waddell & Reed Financial (NYSE:WDR) last released its earnings results on Tuesday, January 31st. The asset manager reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. Waddell & Reed Financial had a return on equity of 22.74% and a net margin of 11.86%. The business had revenue of $292.90 million for the quarter, compared to analyst estimates of $290.76 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. Waddell & Reed Financial’s revenue was down 18.9% on a year-over-year basis. On average, analysts expect that Waddell & Reed Financial, Inc. will post $1.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $1.84 annualized dividend and a yield of 10.69%. Waddell & Reed Financial’s payout ratio is presently 103.37%.
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A number of analysts have issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $18.00 target price (down previously from $19.00) on shares of Waddell & Reed Financial in a report on Wednesday, April 12th. Zacks Investment Research raised Waddell & Reed Financial from a “sell” rating to a “hold” rating in a report on Monday, April 10th. Evercore ISI lowered Waddell & Reed Financial from a “hold” rating to an “underperform” rating and set a $18.00 target price on the stock. in a report on Friday, March 3rd. Finally, Credit Suisse Group AG reaffirmed an “underperform” rating and issued a $16.00 target price on shares of Waddell & Reed Financial in a report on Sunday, February 5th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.39.
Waddell & Reed Financial Company Profile
Waddell & Reed Financial, Inc, incorporated on December 24, 1981, is a holding company. The Company 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 (the Advisors Funds), Ivy Funds, Ivy Funds Variable Insurance Portfolios (Ivy Funds VIP), InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV (the SICAV) and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.
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