Waddell & Reed Financial, Inc. (WDR) Given Consensus Recommendation of “Hold” by Brokerages

Waddell & Reed Financial, Inc. (NYSE:WDR) has been given a consensus rating of “Hold” by the ten research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $20.29.

WDR has been the topic of several recent analyst reports. Morgan Stanley upped their price target on Waddell & Reed Financial from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Tuesday, February 13th. Zacks Investment Research lowered Waddell & Reed Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 13th. ValuEngine lowered Waddell & Reed Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Citigroup decreased their price target on Waddell & Reed Financial from $19.50 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 2nd.

Several institutional investors have recently made changes to their positions in the company. Assetmark Inc. acquired a new position in Waddell & Reed Financial during the 4th quarter worth about $103,000. Stratos Wealth Partners LTD. lifted its stake in Waddell & Reed Financial by 298.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 8,816 shares of the asset manager’s stock worth $178,000 after acquiring an additional 6,601 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in Waddell & Reed Financial during the 4th quarter worth about $224,000. Elkfork Partners LLC acquired a new position in Waddell & Reed Financial during the 4th quarter worth about $234,000. Finally, MANA Advisors LLC acquired a new position in Waddell & Reed Financial during the 4th quarter worth about $238,000. 98.85% of the stock is currently owned by institutional investors and hedge funds.

NYSE:WDR traded up $0.12 during trading hours on Thursday, hitting $20.19. The company had a trading volume of 548,217 shares, compared to its average volume of 1,221,331. The company has a quick ratio of 1.59, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.63 billion, a P/E ratio of 10.52 and a beta of 1.92. Waddell & Reed Financial has a 1 year low of $17.03 and a 1 year high of $23.82.

Waddell & Reed Financial (NYSE:WDR) last issued its earnings results on Tuesday, May 1st. The asset manager reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Waddell & Reed Financial had a return on equity of 17.97% and a net margin of 11.76%. The company had revenue of $297.60 million during the quarter, compared to analysts’ expectations of $288.38 million. During the same period in the prior year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts anticipate that Waddell & Reed Financial will post 2.11 earnings per share for the current year.

Waddell & Reed Financial Company Profile

Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.

Analyst Recommendations for Waddell & Reed Financial (NYSE:WDR)

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