Schwab Charles Investment Management Inc. cut its position in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 32.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 547,258 shares of the asset manager’s stock after selling 256,984 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.65% of Waddell & Reed Financial worth $10,333,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WDR. BlackRock Inc. boosted its holdings in Waddell & Reed Financial by 23,010.1% in the 1st quarter. BlackRock Inc. now owns 16,672,997 shares of the asset manager’s stock valued at $283,440,000 after purchasing an additional 16,600,851 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Waddell & Reed Financial by 119.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,003,501 shares of the asset manager’s stock valued at $34,059,000 after buying an additional 1,091,695 shares during the period. State Street Corp grew its stake in shares of Waddell & Reed Financial by 19.4% in the 1st quarter. State Street Corp now owns 3,481,236 shares of the asset manager’s stock valued at $59,185,000 after buying an additional 565,584 shares during the period. Global X Management Co. LLC purchased a new stake in shares of Waddell & Reed Financial in the 1st quarter valued at approximately $7,726,000. Finally, Vanguard Group Inc. grew its stake in shares of Waddell & Reed Financial by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 6,814,895 shares of the asset manager’s stock valued at $115,853,000 after buying an additional 374,949 shares during the period. 96.37% of the stock is currently owned by institutional investors.

In related news, Director Alan W. Kosloff sold 25,076 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $19.40, for a total value of $486,474.40. Following the sale, the director now directly owns 71,873 shares of the company’s stock, valued at $1,394,336.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Benjamin R. Clouse sold 5,903 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $20.01, for a total transaction of $118,119.03. Following the completion of the sale, the vice president now directly owns 25,845 shares in the company, valued at $517,158.45. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

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WDR has been the topic of several analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $19.00 price target (down previously from $20.00) on shares of Waddell & Reed Financial in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods upgraded Waddell & Reed Financial from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $16.50 to $17.75 in a report on Wednesday, June 14th. Royal Bank Of Canada assumed coverage on Waddell & Reed Financial in a research report on Thursday, June 29th. They issued an “underperform” rating and a $17.00 price objective for the company. Morgan Stanley reiterated an “underweight” rating and issued a $15.00 price objective (up from $14.00) on shares of Waddell & Reed Financial in a research report on Monday, July 10th. Finally, BidaskClub raised Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Six analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Waddell & Reed Financial has a consensus rating of “Sell” and an average target price of $18.06.

Waddell & Reed Financial, Inc. (WDR) opened at 20.07 on Monday. The company’s 50 day moving average is $18.67 and its 200-day moving average is $18.21. The stock has a market cap of $1.68 billion, a PE ratio of 12.61 and a beta of 2.06. Waddell & Reed Financial, Inc. has a 52-week low of $15.02 and a 52-week high of $22.45.

Waddell & Reed Financial (NYSE:WDR) last issued its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $286.70 million for the quarter, compared to analyst estimates of $285.25 million. Waddell & Reed Financial had a return on equity of 18.75% and a net margin of 11.34%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. On average, equities analysts anticipate that Waddell & Reed Financial, Inc. will post $1.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 11th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.17%. The ex-dividend date is Tuesday, October 10th. Waddell & Reed Financial’s dividend payout ratio is currently 115.72%.

About Waddell & Reed Financial

Waddell & Reed Financial, Inc, incorporated on December 24, 1981, is a holding company. The Company is a mutual fund and asset management company. The Company provides investment management, investment advisory, investment product underwriting, and distribution and shareholder services administration to Waddell & Reed Advisors group of mutual funds (the Advisors Funds), Ivy Funds, Ivy Funds Variable Insurance Portfolios (Ivy Funds VIP), InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV (the SICAV) and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.

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

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