Martingale Asset Management L P lessened its holdings in Waddell & Reed Financial, Inc. (NYSE:WDR) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,148 shares of the asset manager’s stock after selling 9,015 shares during the quarter. Martingale Asset Management L P owned 0.06% of Waddell & Reed Financial worth $889,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of WDR. Oregon Public Employees Retirement Fund acquired a new stake in shares of Waddell & Reed Financial in the 4th quarter valued at $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Waddell & Reed Financial in the 4th quarter valued at $37,000. IFP Advisors Inc boosted its holdings in shares of Waddell & Reed Financial by 968.8% in the 4th quarter. IFP Advisors Inc now owns 4,243 shares of the asset manager’s stock valued at $76,000 after purchasing an additional 3,846 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Waddell & Reed Financial by 17.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,744 shares of the asset manager’s stock valued at $122,000 after purchasing an additional 1,012 shares in the last quarter. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Waddell & Reed Financial in the 3rd quarter valued at $204,000. 98.19% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on WDR. ValuEngine raised Waddell & Reed Financial from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Morgan Stanley set a $14.00 target price on Waddell & Reed Financial and gave the company a “sell” rating in a report on Friday, February 8th. Citigroup downgraded Waddell & Reed Financial from a “neutral” rating to a “sell” rating in a report on Monday, January 14th. Finally, Zacks Investment Research downgraded Waddell & Reed Financial from a “hold” rating to a “sell” rating in a report on Sunday, January 6th. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Sell” and a consensus target price of $19.17.
Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings results on Tuesday, February 5th. The asset manager reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.11. Waddell & Reed Financial had a return on equity of 20.81% and a net margin of 15.82%. The company had revenue of $272.20 million during the quarter, compared to analysts’ expectations of $273.78 million. During the same period in the prior year, the company earned $0.36 EPS. Waddell & Reed Financial’s revenue was down 7.6% compared to the same quarter last year. As a group, analysts expect that Waddell & Reed Financial, Inc. will post 1.36 EPS for the current year.
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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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