Parametric Portfolio Associates LLC Sells 30,364 Shares of Waddell & Reed Financial, Inc. (NYSE:WDR)

Parametric Portfolio Associates LLC reduced its position in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 5.1% in the 1st quarter, Holdings Channel reports. The firm owned 567,067 shares of the asset manager’s stock after selling 30,364 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Waddell & Reed Financial were worth $9,805,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WDR. Norges Bank bought a new stake in Waddell & Reed Financial during the 4th quarter worth about $23,393,000. APG Asset Management N.V. raised its holdings in Waddell & Reed Financial by 359.4% during the 4th quarter. APG Asset Management N.V. now owns 997,000 shares of the asset manager’s stock worth $15,768,000 after purchasing an additional 780,000 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Waddell & Reed Financial by 175.1% during the 4th quarter. Brown Advisory Inc. now owns 889,147 shares of the asset manager’s stock worth $16,076,000 after buying an additional 565,881 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in shares of Waddell & Reed Financial during the 4th quarter worth about $30,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Waddell & Reed Financial by 55.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 665,810 shares of the asset manager’s stock worth $11,512,000 after buying an additional 237,523 shares during the period. 98.19% of the stock is owned by hedge funds and other institutional investors.

Waddell & Reed Financial stock opened at $17.07 on Friday. The stock has a market cap of $1.27 billion, a PE ratio of 7.49, a P/E/G ratio of 4.27 and a beta of 1.51. Waddell & Reed Financial, Inc. has a 1 year low of $15.97 and a 1 year high of $21.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.41 and a quick ratio of 1.46.

Waddell & Reed Financial (NYSE:WDR) last posted its earnings results on Tuesday, April 30th. The asset manager reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The company had revenue of $259.40 million during the quarter, compared to analyst estimates of $262.55 million. Waddell & Reed Financial had a return on equity of 19.31% and a net margin of 15.09%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 EPS. Equities analysts forecast that Waddell & Reed Financial, Inc. will post 1.59 EPS for the current year.

In other news, Director Dennis E. Logue sold 5,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $16.72, for a total transaction of $83,600.00. Following the completion of the transaction, the director now directly owns 69,452 shares in the company, valued at approximately $1,161,237.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.13% of the stock is currently owned by insiders.

Several equities analysts have recently issued reports on WDR shares. Bank of America upgraded Waddell & Reed Financial from an “underperform” rating to a “neutral” rating and set a $18.59 target price for the company in a research report on Friday, April 12th. Gabelli restated a “buy” rating on shares of Waddell & Reed Financial in a research report on Wednesday, May 1st. Finally, Zacks Investment Research upgraded Waddell & Reed Financial from a “sell” rating to a “hold” rating and set a $20.00 target price for the company in a research report on Tuesday, April 9th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $18.66.

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Waddell & Reed Financial 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.

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

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