Jefferies Group LLC Raises Waddell & Reed Financial, Inc. (WDR) Price Target to $20.00

Waddell & Reed Financial, Inc. (NYSE:WDR) had its target price raised by Jefferies Group LLC from $19.00 to $20.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. Jefferies Group LLC currently has a hold rating on the asset manager’s stock. Jefferies Group also issued estimates for Waddell & Reed Financial’s Q3 2017 earnings at $0.38 EPS, Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.46 EPS, Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.64 EPS and FY2019 earnings at $1.74 EPS.

A number of other equities research analysts have also recently issued reports on WDR. BidaskClub cut shares of Waddell & Reed Financial from a buy rating to a hold rating in a report on Friday, August 11th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $20.00 price objective on shares of Waddell & Reed Financial in a report on Thursday, August 3rd. Credit Suisse Group decreased their price objective on shares of Waddell & Reed Financial from $19.00 to $18.00 and set an underperform rating for the company in a report on Friday, August 11th. Zacks Investment Research upgraded shares of Waddell & Reed Financial from a hold rating to a buy rating and set a $23.00 price target for the company in a report on Thursday, October 5th. Finally, ValuEngine upgraded shares of Waddell & Reed Financial from a hold rating to a buy rating in a report on Monday, October 2nd. Six analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Waddell & Reed Financial currently has a consensus rating of Hold and an average target price of $18.31.

Waddell & Reed Financial (NYSE:WDR) opened at 20.30 on Tuesday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 12.76 and a beta of 2.04. The firm has a 50-day moving average price of $19.01 and a 200 day moving average price of $18.45. Waddell & Reed Financial has a 52-week low of $15.02 and a 52-week high of $22.45.

Waddell & Reed Financial (NYSE:WDR) last issued its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $286.70 million during the quarter, compared to analysts’ expectations of $285.25 million. Waddell & Reed Financial had a net margin of 11.34% and a return on equity of 18.75%. Waddell & Reed Financial’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. On average, equities research analysts predict that Waddell & Reed Financial will post $1.47 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 11th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.06%. The ex-dividend date of this dividend is Tuesday, October 10th. Waddell & Reed Financial’s dividend payout ratio is currently 115.72%.

In related news, Director Alan W. Kosloff sold 25,076 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $19.40, for a total value of $486,474.40. Following the completion of the transaction, the director now owns 71,873 shares of the company’s stock, valued at $1,394,336.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Benjamin R. Clouse sold 5,903 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $20.01, for a total transaction of $118,119.03. Following the completion of the transaction, the vice president now directly owns 25,845 shares of the company’s stock, valued at approximately $517,158.45. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

A number of large investors have recently bought and sold shares of WDR. Riverhead Capital Management LLC raised its position in Waddell & Reed Financial by 79.0% in the second quarter. Riverhead Capital Management LLC now owns 6,624 shares of the asset manager’s stock worth $125,000 after purchasing an additional 2,924 shares in the last quarter. Flinton Capital Management LLC raised its position in Waddell & Reed Financial by 80.3% in the second quarter. Flinton Capital Management LLC now owns 9,010 shares of the asset manager’s stock worth $170,000 after purchasing an additional 4,012 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Waddell & Reed Financial in the second quarter worth about $173,000. 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 worth $183,000 after purchasing an additional 498 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Waddell & Reed Financial in the second quarter worth about $194,000. 96.37% of the stock is owned by hedge funds and other institutional investors.

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.

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

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