Waddell & Reed #Financial (WDR) Stock Price Down 6.9% #Following #Insider Selling

Waddell & Reed Financial, Inc. (NYSE:WDR)’s share price was down 6.9% during mid-day trading on Friday following insider selling activity. The stock traded as low as $21.55 and last traded at $21.77. Approximately 1,822,700 shares changed hands during mid-day trading, an increase of 71% from the average daily volume of 1,068,270 shares. The stock had previously closed at $23.39.

Specifically, SVP Wendy J. Hills sold 31,273 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $22.41, for a total transaction of $700,827.93. Following the completion of the sale, the senior vice president now owns 151,602 shares of the company’s stock, valued at approximately $3,397,400.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry W. Walton sold 5,792 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $22.95, for a total transaction of $132,926.40. Following the sale, the director now directly owns 81,332 shares of the company’s stock, valued at approximately $1,866,569.40. In the last ninety days, insiders have sold 106,411 shares of company stock valued at $2,325,539. Corporate insiders own 3.80% of the company’s stock.

WDR has been the subject of a number of research analyst reports. Jefferies Group reissued a “hold” rating and set a $23.00 target price on shares of Waddell & Reed Financial in a research report on Thursday, January 11th. Zacks Investment Research downgraded shares of Waddell & Reed Financial from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research report on Saturday, January 6th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $23.00 target price on shares of Waddell & Reed Financial in a research report on Friday, December 22nd. Citigroup upgraded Waddell & Reed Financial from a “sell” rating to a “neutral” rating and set a $24.00 price target for the company in a report on Wednesday. Finally, Royal Bank of Canada restated a “sell” rating and issued a $20.00 price target on shares of Waddell & Reed Financial in a report on Wednesday. Six research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Waddell & Reed Financial presently has a consensus rating of “Hold” and a consensus price target of $20.67.

The stock has a market capitalization of $1,800.38, a price-to-earnings ratio of 12.73 and a beta of 2.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.02 and a quick ratio of 1.14.
Waddell & Reed Financial (NYSE:WDR) last released its quarterly earnings results on Tuesday, January 30th. The asset manager reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $294.48 million during the quarter, compared to analysts’ expectations of $286.55 million. Waddell & Reed Financial had a return on equity of 16.72% and a net margin of 10.72%. Waddell & Reed Financial’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. equities research analysts anticipate that Waddell & Reed Financial, Inc. will post 2.07 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. IFG Advisory LLC purchased a new position in shares of Waddell & Reed Financial during the 4th quarter valued at approximately $563,000. Contravisory Investment Management Inc. purchased a new position in shares of Waddell & Reed Financial during the 4th quarter valued at approximately $161,000. Flinton Capital Management LLC boosted its stake in shares of Waddell & Reed Financial by 80.3% during the 2nd quarter. Flinton Capital Management LLC now owns 9,010 shares of the asset manager’s stock valued at $170,000 after buying an additional 4,012 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Waddell & Reed Financial during the 2nd quarter valued at approximately $173,000. Finally, Chicago Equity Partners LLC purchased a new position in shares of Waddell & Reed Financial during the 3rd quarter valued at approximately $205,000. Institutional investors own 95.95% of the company’s stock.

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