Wellington Management Group LLP Takes Position in Waddell & Reed Financial, Inc. (NYSE:WDR)

Wellington Management Group LLP acquired a new stake in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) during the first quarter, Holdings Channel reports. The fund acquired 17,993 shares of the asset manager’s stock, valued at approximately $205,000.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Waddell & Reed Financial by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,642 shares of the asset manager’s stock valued at $13,922,000 after buying an additional 2,415 shares during the last quarter. Credit Suisse AG grew its stake in shares of Waddell & Reed Financial by 8.8% during the fourth quarter. Credit Suisse AG now owns 89,452 shares of the asset manager’s stock valued at $1,496,000 after buying an additional 7,224 shares during the last quarter. Norges Bank bought a new position in shares of Waddell & Reed Financial during the fourth quarter valued at about $21,632,000. FMR LLC grew its stake in shares of Waddell & Reed Financial by 0.8% during the fourth quarter. FMR LLC now owns 3,828,530 shares of the asset manager’s stock valued at $64,013,000 after buying an additional 31,801 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Waddell & Reed Financial in the fourth quarter worth about $1,492,000.

Waddell & Reed Financial stock opened at $15.10 on Wednesday. The stock’s 50 day simple moving average is $14.29 and its two-hundred day simple moving average is $14.57. The stock has a market cap of $965.97 million, a price-to-earnings ratio of 10.34 and a beta of 1.50. Waddell & Reed Financial, Inc. has a fifty-two week low of $9.87 and a fifty-two week high of $18.33.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The business had revenue of $263.70 million for the quarter, compared to analysts’ expectations of $253.19 million. Waddell & Reed Financial had a return on equity of 15.01% and a net margin of 9.76%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. As a group, equities analysts forecast that Waddell & Reed Financial, Inc. will post 1.02 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 10th. This represents a $1.00 annualized dividend and a yield of 6.62%. Waddell & Reed Financial’s payout ratio is 53.19%.

Several research firms recently issued reports on WDR. Morgan Stanley cut their target price on Waddell & Reed Financial from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 8th. Bank of America cut their target price on Waddell & Reed Financial from $11.00 to $10.00 and set an “underperform” rating on the stock in a research note on Monday, March 23rd. Finally, ValuEngine cut Waddell & Reed Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Six research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. The company presently has a consensus rating of “Sell” and a consensus target price of $13.83.

Waddell & Reed Financial Company 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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