Schwab Charles Investment Management Inc. boosted its stake in Waddell & Reed Financial, Inc. (NYSE:WDR) by 12.4% during the first quarter, Holdings Channel reports. The firm owned 804,242 shares of the asset manager’s stock after buying an additional 88,764 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Waddell & Reed Financial were worth $13,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Waddell & Reed Financial by 0.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,310 shares of the asset manager’s stock valued at $209,000 after buying an additional 50 shares during the period. Cipher Capital LP raised its position in Waddell & Reed Financial by 0.8% in the first quarter. Cipher Capital LP now owns 13,127 shares of the asset manager’s stock valued at $223,000 after buying an additional 104 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in Waddell & Reed Financial by 1.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 14,523 shares of the asset manager’s stock valued at $247,000 after buying an additional 252 shares during the period. Oregon Public Employees Retirement Fund raised its position in Waddell & Reed Financial by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 28,934 shares of the asset manager’s stock valued at $492,000 after buying an additional 400 shares during the period. Finally, Advantus Capital Management Inc raised its position in Waddell & Reed Financial by 4.8% in the first quarter. Advantus Capital Management Inc now owns 10,790 shares of the asset manager’s stock valued at $183,000 after buying an additional 498 shares during the period. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of Waddell & Reed Financial, Inc. (NYSE WDR) opened at 20.60 on Tuesday. The company has a market cap of $1.72 billion, a PE ratio of 11.98 and a beta of 2.01. The company’s 50-day moving average price is $17.81 and its 200 day moving average price is $18.15. Waddell & Reed Financial, Inc. has a one year low of $15.02 and a one year high of $22.45.

Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, May 2nd. The asset manager reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.03. Waddell & Reed Financial had a return on equity of 20.88% and a net margin of 11.90%. The company had revenue of $286.54 million for the quarter, compared to analyst estimates of $286.53 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. Waddell & Reed Financial’s revenue for the quarter was down 11.5% on a year-over-year basis. Equities analysts forecast that Waddell & Reed Financial, Inc. will post $1.60 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Tuesday, July 11th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, July 7th. This represents a $1.84 annualized dividend and a yield of 8.93%. Waddell & Reed Financial’s dividend payout ratio is currently 106.98%.

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Several research firms have commented on WDR. Jefferies Group LLC reissued a “hold” rating and issued a $18.00 price objective on shares of Waddell & Reed Financial in a research report on Wednesday, June 28th. BidaskClub upgraded Waddell & Reed Financial from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. ValuEngine upgraded Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Morgan Stanley restated an “underweight” rating and set a $15.00 target price (up from $14.00) on shares of Waddell & Reed Financial in a research note on Monday, July 10th. Finally, Royal Bank Of Canada began coverage on Waddell & Reed Financial in a research note on Thursday, June 29th. They issued an “underperform” rating and a $17.00 price target for the company. Five analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.28.

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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Institutional Ownership by Quarter for Waddell & Reed Financial (NYSE:WDR)

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