Duality Advisers LP Invests $1.45 Million in Waddell & Reed Financial, Inc. (NYSE:WDR)

Duality Advisers LP purchased a new stake in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 93,319 shares of the asset manager’s stock, valued at approximately $1,447,000. Duality Advisers LP owned about 0.14% of Waddell & Reed Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WDR. Marshall Wace North America L.P. bought a new position in Waddell & Reed Financial during the first quarter valued at approximately $26,000. Tower Research Capital LLC TRC acquired a new stake in shares of Waddell & Reed Financial in the 1st quarter valued at $32,000. Advisors Asset Management Inc. bought a new stake in Waddell & Reed Financial in the fourth quarter worth $47,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Waddell & Reed Financial by 48.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,973 shares of the asset manager’s stock worth $79,000 after purchasing an additional 2,268 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Waddell & Reed Financial by 26.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,863 shares of the asset manager’s stock worth $89,000 after buying an additional 1,657 shares during the last quarter.

Shares of WDR stock opened at $14.59 on Friday. Waddell & Reed Financial, Inc. has a 12 month low of $9.87 and a 12 month high of $18.33. The firm has a market cap of $957.44 million, a PE ratio of 10.50 and a beta of 1.52. The stock has a 50 day moving average of $15.15 and a 200-day moving average of $14.34.

Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, July 28th. The asset manager reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.06. Waddell & Reed Financial had a net margin of 9.17% and a return on equity of 14.57%. The business had revenue of $240.03 million for the quarter, compared to analyst estimates of $245.26 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Waddell & Reed Financial’s revenue was down 11.1% compared to the same quarter last year. On average, equities analysts expect that Waddell & Reed Financial, Inc. will post 1.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date is Friday, July 10th. Waddell & Reed Financial’s dividend payout ratio is currently 53.19%.

Several analysts have recently issued reports on the company. ValuEngine downgraded Waddell & Reed Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Bank of America increased their price target on Waddell & Reed Financial from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Friday, July 10th. Morgan Stanley boosted their price objective on shares of Waddell & Reed Financial from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Royal Bank of Canada reaffirmed a “sell” rating and set a $13.00 price objective on shares of Waddell & Reed Financial in a report on Thursday. Finally, Citigroup upgraded shares of Waddell & Reed Financial from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $11.50 to $14.00 in a report on Wednesday. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has an average rating of “Sell” and an average target price of $14.83.

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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