Leavell Investment Management Inc. trimmed its position in Waddell & Reed Financial, Inc. (NYSE:WDR) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,348 shares of the asset manager’s stock after selling 2,200 shares during the period. Leavell Investment Management Inc.’s holdings in Waddell & Reed Financial were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in WDR. Piedmont Investment Advisors Inc. raised its holdings in shares of Waddell & Reed Financial by 3.0% during the first quarter. Piedmont Investment Advisors Inc. now owns 19,193 shares of the asset manager’s stock worth $332,000 after purchasing an additional 565 shares during the last quarter. Texas Permanent School Fund increased its holdings in Waddell & Reed Financial by 1.1% in the first quarter. Texas Permanent School Fund now owns 51,828 shares of the asset manager’s stock valued at $896,000 after buying an additional 577 shares in the last quarter. Comerica Bank increased its holdings in Waddell & Reed Financial by 0.9% in the first quarter. Comerica Bank now owns 86,560 shares of the asset manager’s stock valued at $1,560,000 after buying an additional 812 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Waddell & Reed Financial by 8.7% in the fourth quarter. Hsbc Holdings PLC now owns 12,236 shares of the asset manager’s stock valued at $221,000 after buying an additional 981 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Waddell & Reed Financial by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 55,319 shares of the asset manager’s stock valued at $1,000,000 after buying an additional 1,216 shares in the last quarter. Institutional investors own 98.19% of the company’s stock.
A number of research analysts have weighed in on the stock. Gabelli reaffirmed a “buy” rating on shares of Waddell & Reed Financial in a report on Wednesday, May 1st. Bank of America set a $144.00 price objective on shares of Walt Disney and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.66.
Waddell & Reed Financial (NYSE:WDR) last released its earnings results on Tuesday, July 30th. The asset manager reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $270.20 million during the quarter, compared to analysts’ expectations of $267.48 million. Waddell & Reed Financial had a net margin of 15.09% and a return on equity of 19.31%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, equities research analysts expect that Waddell & Reed Financial, Inc. will post 1.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.67%. Waddell & Reed Financial’s dividend payout ratio is currently 43.86%.
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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