BlackRock Inc. Raises Position in Waddell & Reed Financial, Inc. (NYSE:WDR)

BlackRock Inc. increased its holdings in Waddell & Reed Financial, Inc. (NYSE:WDR) by 0.1% in the third quarter, according to the company in its most …

Waddell & Reed Financial logoBlackRock Inc. increased its holdings in Waddell & Reed Financial, Inc. (NYSE:WDR) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,693,235 shares of the asset manager’s stock after purchasing an additional 6,889 shares during the period. BlackRock Inc. owned 14.93% of Waddell & Reed Financial worth $247,663,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. FMR LLC lifted its stake in shares of Waddell & Reed Financial by 10.0% in the second quarter. FMR LLC now owns 4,691,739 shares of the asset manager’s stock worth $84,311,000 after acquiring an additional 424,816 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Waddell & Reed Financial by 7.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,336,488 shares of the asset manager’s stock valued at $59,957,000 after acquiring an additional 245,242 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Waddell & Reed Financial by 11.7% in the third quarter. Van Berkom & Associates Inc. now owns 2,733,654 shares of the asset manager’s stock valued at $57,899,000 after purchasing an additional 286,363 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Waddell & Reed Financial by 4.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,903,000 shares of the asset manager’s stock valued at $40,306,000 after purchasing an additional 72,800 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Waddell & Reed Financial by 4.6% in the second quarter. Schroder Investment Management Group now owns 1,744,999 shares of the asset manager’s stock worth $31,253,000 after acquiring an additional 77,100 shares during the last quarter. 98.19% of the stock is owned by institutional investors and hedge funds.

Waddell & Reed Financial stock traded down $0.80 during mid-day trading on Friday, hitting $16.97. 2,575,826 shares of the company’s stock were exchanged, compared to its average volume of 1,186,363. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.04 and a quick ratio of 1.80. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.68 and a beta of 1.54. Waddell & Reed Financial, Inc. has a 1-year low of $16.45 and a 1-year high of $23.82.

Waddell & Reed Financial (NYSE:WDR) last posted its earnings results on Tuesday, October 30th. The asset manager reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. The firm had revenue of $295.10 million for the quarter, compared to the consensus estimate of $293.63 million. Waddell & Reed Financial had a net margin of 14.11% and a return on equity of 20.10%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, sell-side analysts anticipate that Waddell & Reed Financial, Inc. will post 2.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Friday, January 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Thursday, January 10th. Waddell & Reed Financial’s payout ratio is presently 52.08%.

In related news, Director Jerry W. Walton sold 9,427 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $19.05, for a total value of $179,584.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.40% of the stock is currently owned by company insiders.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, October 8th. Citigroup set a $20.00 price target on shares of Waddell & Reed Financial and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Royal Bank of Canada set a $17.00 price target on shares of Waddell & Reed Financial and gave the stock a “sell” rating in a research note on Wednesday, October 31st. Credit Suisse Group dropped their price target on shares of Waddell & Reed Financial from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 31st. Finally, ValuEngine raised shares of Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company presently has an average rating of “Sell” and a consensus price target of $20.00.

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About Waddell & Reed Financial

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.

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

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