Royal Bank of Canada Reiterates $17.00 Price Target for Waddell & Reed Financial (WDR)

Waddell & Reed Financial (NYSE:WDR) has been assigned a $17.00 target price by analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday. The brokerage presently has a “sell” rating on the asset manager’s stock. Royal Bank of Canada’s price target indicates a potential downside of 11.83% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $23.00 price objective on shares of Waddell & Reed Financial in a research report on Wednesday, August 1st. ValuEngine raised shares of Waddell & Reed Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Finally, Citigroup set a $20.00 target price on shares of Waddell & Reed Financial and gave the stock a “hold” rating in a report on Wednesday. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Waddell & Reed Financial has a consensus rating of “Hold” and an average target price of $20.71.

Shares of WDR stock traded down $0.49 during mid-day trading on Wednesday, reaching $19.28. 73,551 shares of the company’s stock traded hands, compared to its average volume of 1,077,566. Waddell & Reed Financial has a 12 month low of $17.53 and a 12 month high of $23.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.99 and a quick ratio of 1.75. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 0.91 and a beta of 1.85.



Waddell & Reed Financial (NYSE:WDR) last issued its quarterly earnings data on Tuesday, October 30th. The asset manager reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Waddell & Reed Financial had a net margin of 13.47% and a return on equity of 19.29%. The firm had revenue of $295.10 million during the quarter, compared to the consensus estimate of $293.63 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts expect that Waddell & Reed Financial will post 2.23 EPS for the current year.

In related news, Director Alan W. Kosloff sold 19,614 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $20.42, for a total value of $400,517.88. Following the completion of the transaction, the director now owns 22,184 shares of the company’s stock, valued at approximately $452,997.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of WDR. Laurion Capital Management LP bought a new position in Waddell & Reed Financial in the 2nd quarter worth $191,000. Neuburgh Advisers LLC boosted its holdings in shares of Waddell & Reed Financial by 34.2% during the 2nd quarter. Neuburgh Advisers LLC now owns 11,044 shares of the asset manager’s stock valued at $198,000 after purchasing an additional 2,816 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Waddell & Reed Financial by 34.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 12,621 shares of the asset manager’s stock valued at $227,000 after purchasing an additional 3,200 shares during the last quarter. Tyers Asset Management LLC boosted its holdings in shares of Waddell & Reed Financial by 34.2% during the 2nd quarter. Tyers Asset Management LLC now owns 14,056 shares of the asset manager’s stock valued at $253,000 after purchasing an additional 3,584 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of Waddell & Reed Financial by 49.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 15,032 shares of the asset manager’s stock valued at $304,000 after purchasing an additional 5,000 shares during the last quarter. 97.98% of the stock is owned by institutional investors.

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

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