Today, Bank of Montreal Can Buys 5,148 Shares of Waddell & Reed Financial Inc. (WDR)

Today, Bank of Montreal Can Buys 5,148 Shares of Waddell & Reed Financial Inc. (WDR)
Bank of Montreal Can boosted its stake in Waddell & Reed Financial Inc. (NYSE:WDR) by 40.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,721 shares of the company’s stock after buying an additional 5,148 shares during the period. Bank of Montreal Can’s holdings in Waddell & Reed Financial were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WDR. BlackRock Fund Advisors boosted its stake in shares of Waddell & Reed Financial by 3.1% in the second quarter. BlackRock Fund Advisors now owns 9,018,786 shares of the company’s stock valued at $155,303,000 after buying an additional 272,298 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Waddell & Reed Financial by 2.0% in the second quarter. Vanguard Group Inc. now owns 5,722,165 shares of the company’s stock valued at $98,536,000 after buying an additional 113,873 shares in the last quarter. State Street Corp boosted its stake in shares of Waddell & Reed Financial by 19.1% in the second quarter. State Street Corp now owns 2,864,834 shares of the company’s stock valued at $49,329,000 after buying an additional 459,301 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Waddell & Reed Financial by 155.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,724,685 shares of the company’s stock valued at $46,919,000 after buying an additional 1,656,992 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Waddell & Reed Financial by 1.5% in the third quarter. Fisher Asset Management LLC now owns 1,939,684 shares of the company’s stock valued at $35,225,000 after buying an additional 28,730 shares in the last quarter. 86.25% of the stock is owned by hedge funds and other institutional investors.

Shares of Waddell & Reed Financial Inc. (NYSE:WDR) traded up 0.30% during trading on Friday, hitting $19.99. The company had a trading volume of 260,474 shares. Waddell & Reed Financial Inc. has a 12-month low of $15.02 and a 12-month high of $37.76. The stock has a 50-day moving average of $17.60 and a 200 day moving average of $18.40. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 8.82 and a beta of 1.93.

Waddell & Reed Financial (NYSE:WDR) last posted its earnings results on Tuesday, October 25th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.51 by $0.13. The firm earned $303.09 million during the quarter, compared to the consensus estimate of $295.65 million. Waddell & Reed Financial had a return on equity of 25.38% and a net margin of 14.34%. The business’s quarterly revenue was down 19.4% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. On average, analysts predict that Waddell & Reed Financial Inc. will post $1.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 11th were given a $0.46 dividend. The ex-dividend date was Thursday, October 6th. This represents a $1.84 annualized dividend and a yield of 9.20%. Waddell & Reed Financial’s dividend payout ratio is presently 81.06%.

Several analysts have weighed in on WDR shares. Keefe, Bruyette & Woods reissued a “sell” rating and set a $18.00 price objective (up from $16.50) on shares of Waddell & Reed Financial in a report on Wednesday, November 16th. Jefferies Group boosted their price objective on Waddell & Reed Financial from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Tuesday, October 11th. Credit Suisse Group AG restated a “sell” rating and set a $13.00 target price on shares of Waddell & Reed Financial in a research report on Monday, November 7th. Citigroup Inc. lowered Waddell & Reed Financial from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $17.00 to $14.50 in a research report on Monday, October 17th. Finally, Zacks Investment Research lowered Waddell & Reed Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 28th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $20.95.

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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