Texas Permanent School Fund Reduces Position in Waddell & Reed Financial, Inc. (WDR)

Texas Permanent School Fund trimmed its holdings in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,185 shares of the asset manager’s stock after selling 2,762 shares during the quarter. Texas Permanent School Fund owned approximately 0.06% of Waddell & Reed Financial worth $1,063,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WDR. Foundry Partners LLC boosted its holdings in Waddell & Reed Financial by 29.7% in the 3rd quarter. Foundry Partners LLC now owns 738,720 shares of the asset manager’s stock valued at $15,646,000 after purchasing an additional 169,340 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Waddell & Reed Financial by 12.4% during the 3rd quarter. Gateway Investment Advisers LLC now owns 148,492 shares of the asset manager’s stock worth $3,145,000 after acquiring an additional 16,440 shares during the period. Bank of Montreal Can lifted its holdings in shares of Waddell & Reed Financial by 7,083.5% during the 3rd quarter. Bank of Montreal Can now owns 171,398 shares of the asset manager’s stock worth $3,630,000 after acquiring an additional 169,012 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Waddell & Reed Financial by 38.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 37,379 shares of the asset manager’s stock worth $791,000 after acquiring an additional 10,395 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Waddell & Reed Financial by 6.7% during the 2nd quarter. Northern Trust Corp now owns 1,109,360 shares of the asset manager’s stock worth $19,935,000 after acquiring an additional 69,363 shares during the period.

Shares of WDR traded up $0.25 during trading hours on Monday, hitting $20.61. The company’s stock had a trading volume of 1,181,500 shares, compared to its average volume of 1,032,189. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.17 and a beta of 1.65. The company has a quick ratio of 1.80, a current ratio of 4.04 and a debt-to-equity ratio of 0.11. Waddell & Reed Financial, Inc. has a 52-week low of $17.53 and a 52-week high of $23.82.

Waddell & Reed Financial (NYSE:WDR) last posted its earnings results on Tuesday, October 30th. The asset manager reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm had revenue of $295.10 million during the quarter, compared to the consensus estimate of $293.63 million. Waddell & Reed Financial had a net margin of 14.11% and a return on equity of 20.10%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. On average, sell-side analysts expect that Waddell & Reed Financial, Inc. will post 2.22 earnings per share for the current fiscal year.

WDR has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, October 8th. Citigroup set a $20.00 price target on shares of Waddell & Reed Financial and gave the company a “hold” rating in a research report on Wednesday, October 31st. Royal Bank of Canada set a $17.00 price objective on shares of Waddell & Reed Financial and gave the stock a “sell” rating in a research report on Wednesday, October 31st. ValuEngine upgraded shares of Waddell & Reed Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Finally, Credit Suisse Group dropped their price objective on shares of Waddell & Reed Financial from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 31st. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Sell” and a consensus price target of $20.38.

In related news, Director Alan W. Kosloff sold 19,614 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $20.42, for a total transaction of $400,517.88. Following the completion of the transaction, the director now owns 22,184 shares of the company’s stock, valued at $452,997.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jerry W. Walton sold 9,427 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $19.05, for a total transaction of $179,584.35. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

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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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Institutional Ownership by Quarter for Waddell & Reed Financial (NYSE:WDR)

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