Waddell & Reed Financial, Inc. (WDR) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its stake in Waddell & Reed Financial, Inc. (NYSE:WDR) by 0.3% in the first quarter, HoldingsChannel.com reports. The fund owned 1,362,000 shares of the asset manager’s stock after selling 4,500 shares during the period. Gabelli Funds LLC’s holdings in Waddell & Reed Financial were worth $23,549,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in WDR. Norges Bank bought a new stake in shares of Waddell & Reed Financial in the fourth quarter worth approximately $23,393,000. APG Asset Management N.V. grew its stake in shares of Waddell & Reed Financial by 359.4% in the fourth quarter. APG Asset Management N.V. now owns 997,000 shares of the asset manager’s stock worth $15,768,000 after acquiring an additional 780,000 shares during the period. Brown Advisory Inc. grew its stake in shares of Waddell & Reed Financial by 175.1% in the fourth quarter. Brown Advisory Inc. now owns 889,147 shares of the asset manager’s stock worth $16,076,000 after acquiring an additional 565,881 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in shares of Waddell & Reed Financial in the fourth quarter worth approximately $30,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Waddell & Reed Financial by 55.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 665,810 shares of the asset manager’s stock worth $11,512,000 after acquiring an additional 237,523 shares during the period. Hedge funds and other institutional investors own 98.19% of the company’s stock.

A number of analysts have recently commented on WDR shares. Citigroup lowered shares of Waddell & Reed Financial from a “neutral” rating to a “sell” rating in a research note on Monday, January 14th. Morgan Stanley set a $14.00 price target on shares of Waddell & Reed Financial and gave the stock a “sell” rating in a research note on Friday, February 8th. Bank of America upgraded shares of Waddell & Reed Financial from an “underperform” rating to a “neutral” rating and set a $18.59 target price for the company in a research report on Friday, April 12th. ValuEngine lowered shares of Waddell & Reed Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. Finally, Gabelli restated a “buy” rating on shares of Waddell & Reed Financial in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $18.66.

In related news, Director Dennis E. Logue sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $16.72, for a total transaction of $83,600.00. Following the completion of the sale, the director now directly owns 69,452 shares in the company, valued at $1,161,237.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.13% of the company’s stock.

Shares of NYSE WDR opened at $17.83 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.27 and a quick ratio of 1.44. The company has a market cap of $1.46 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 4.82 and a beta of 1.46. Waddell & Reed Financial, Inc. has a 12-month low of $16.01 and a 12-month high of $21.63.

Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, April 30th. The asset manager reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $259.40 million during the quarter, compared to analyst estimates of $262.55 million. Waddell & Reed Financial had a net margin of 15.09% and a return on equity of 19.31%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. Equities research analysts anticipate that Waddell & Reed Financial, Inc. will post 1.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.00 annualized dividend and a yield of 5.61%. Waddell & Reed Financial’s dividend payout ratio (DPR) is 43.86%.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.baseballdailydigest.com/news/2019/05/10/waddell-reed-financial-inc-wdr-shares-sold-by-gabelli-funds-llc.html.

Waddell & Reed Financial 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.

Featured Story: Real Estate Investment Trust (REIT) ETF

Want to see what other hedge funds are holding WDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waddell & Reed Financial, Inc. (NYSE:WDR).

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

Receive News & Ratings for Waddell & Reed Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waddell & Reed Financial and related companies with MarketBeat.com's FREE daily email newsletter.