Global X Management Co. LLC raised its stake in Waddell & Reed Financial, Inc. (NYSE:WDR) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 476,156 shares of the asset manager’s stock after buying an additional 21,692 shares during the period. Global X Management Co. LLC’s holdings in Waddell & Reed Financial were worth $8,990,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Waddell & Reed Financial by 14.7% in the first quarter. Ameriprise Financial Inc. now owns 279,395 shares of the asset manager’s stock valued at $4,750,000 after buying an additional 35,876 shares during the last quarter. Norges Bank acquired a new stake in Waddell & Reed Financial during the fourth quarter valued at about $15,478,000. Donald L. Hagan LLC boosted its stake in Waddell & Reed Financial by 1.4% in the first quarter. Donald L. Hagan LLC now owns 41,588 shares of the asset manager’s stock valued at $707,000 after buying an additional 582 shares during the last quarter. Gotham Asset Management LLC boosted its stake in Waddell & Reed Financial by 19.3% in the first quarter. Gotham Asset Management LLC now owns 12,632 shares of the asset manager’s stock valued at $215,000 after buying an additional 2,042 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Waddell & Reed Financial by 43.8% in the first quarter. First Trust Advisors LP now owns 638,521 shares of the asset manager’s stock valued at $10,855,000 after buying an additional 194,562 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.

Shares of Waddell & Reed Financial, Inc. (WDR) opened at 19.21 on Thursday. The firm’s 50-day moving average price is $19.90 and its 200 day moving average price is $18.22. Waddell & Reed Financial, Inc. has a 52-week low of $15.02 and a 52-week high of $22.45. The company has a market capitalization of $1.61 billion, a PE ratio of 12.07 and a beta of 2.04.

Waddell & Reed Financial (NYSE:WDR) last issued its earnings results on Tuesday, August 1st. The asset manager reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $286.70 million for the quarter, compared to analyst estimates of $285.25 million. Waddell & Reed Financial had a net margin of 11.34% and a return on equity of 18.75%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. On average, equities analysts forecast that Waddell & Reed Financial, Inc. will post $1.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 11th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.58%. The ex-dividend date was Friday, July 7th. Waddell & Reed Financial’s dividend payout ratio (DPR) is presently 115.72%.

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Several analysts recently issued reports on WDR shares. Royal Bank Of Canada set a $18.00 target price on Waddell & Reed Financial and gave the stock a “sell” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $18.00 target price (down from $19.00) on shares of Waddell & Reed Financial in a research note on Wednesday, April 12th. Morgan Stanley reissued an “underweight” rating and issued a $15.00 target price (up from $14.00) on shares of Waddell & Reed Financial in a research note on Monday, July 10th. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $16.50 target price on shares of Waddell & Reed Financial in a research note on Friday, June 9th. Finally, ValuEngine raised Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Waddell & Reed Financial currently has an average rating of “Hold” and a consensus target price of $17.81.

In other 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 transaction of $486,474.40. Following the transaction, the director now directly owns 71,873 shares of the company’s stock, valued at $1,394,336.20. The sale was disclosed in a filing with the SEC, which is accessible 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 transaction, 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. Company insiders own 3.80% of the company’s stock.

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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