Trade Report: The Waddell & Reed Financial Inc. (WDR) Price Target Increased to $19.00 by Analysts at Jefferies Group

The Waddell & Reed Financial Inc. (WDR) Price Target Increased to $19.00 by Analysts at Jefferies Group

Waddell & Reed Financial Inc. (NYSE:WDR) had its target price increased by Jefferies Group from $18.00 to $19.00 in a research report released on Tuesday morning. The brokerage currently has a hold rating on the stock.

WDR has been the subject of several other reports. Zacks Investment Research raised shares of Waddell & Reed Financial from a sell rating to a hold rating in a research note on Monday, August 1st. Citigroup Inc. raised shares of Waddell & Reed Financial from a sell rating to a neutral rating and set a $16.00 target price for the company in a research note on Tuesday, July 12th. RBC Capital Markets set a $26.00 target price on shares of Waddell & Reed Financial and gave the company a buy rating in a research note on Wednesday, July 27th. Royal Bank Of Canada cut their target price on shares of Waddell & Reed Financial from $29.00 to $26.00 and set an outperform rating for the company in a research note on Wednesday, July 27th. Finally, Morgan Stanley reaffirmed a sell rating and set a $17.00 target price on shares of Waddell & Reed Financial in a research note on Thursday, July 28th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $23.82.

Waddell & Reed Financial (NYSE:WDR) opened at 17.57 on Tuesday. The company has a market capitalization of $1.46 billion, a P/E ratio of 8.01 and a beta of 1.78. Waddell & Reed Financial has a 52 week low of $15.70 and a 52 week high of $38.85. The stock’s 50 day moving average is $18.13 and its 200 day moving average is $19.36.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 11th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, October 6th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.47%. Waddell & Reed Financial’s dividend payout ratio is presently 83.64%.

Several institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in Waddell & Reed Financial by 29.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,100,916 shares of the company’s stock worth $25,915,000 after buying an additional 250,751 shares in the last quarter. State Street Corp boosted its position in Waddell & Reed Financial by 4.3% in the first quarter. State Street Corp now owns 2,405,533 shares of the company’s stock worth $56,628,000 after buying an additional 99,456 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Waddell & Reed Financial by 1,279.7% in the second quarter. Tower Research Capital LLC TRC now owns 12,555 shares of the company’s stock worth $216,000 after buying an additional 11,645 shares in the last quarter. Hermes Investment Management Ltd. boosted its position in Waddell & Reed Financial by 11.2% in the second quarter. Hermes Investment Management Ltd. now owns 711,773 shares of the company’s stock worth $12,257,000 after buying an additional 71,597 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Waddell & Reed Financial by 201.6% in the second quarter. Prudential Financial Inc. now owns 588,028 shares of the company’s stock worth $10,125,000 after buying an additional 393,055 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

About Waddell & Reed Financial

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