Credit Suisse AG lowered its position in Waddell & Reed Financial, Inc. (NYSE:WDR) by 46.6% during the first quarter, Holdings Channel reports. The fund owned 88,410 shares of the asset manager’s stock after selling 77,227 shares during the period. Credit Suisse AG’s holdings in Waddell & Reed Financial were worth $1,504,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WDR. Advantus Capital Management Inc boosted its stake in Waddell & Reed Financial by 4.8% in the first quarter. Advantus Capital Management Inc now owns 10,790 shares of the asset manager’s stock worth $183,000 after buying an additional 498 shares during the last quarter. Bridgecreek Investment Management LLC boosted its position in shares of Waddell & Reed Financial by 10.0% in the first quarter. Bridgecreek Investment Management LLC now owns 11,000 shares of the asset manager’s stock worth $187,000 after buying an additional 1,000 shares during the last quarter. HPM Partners LLC acquired a new position in shares of Waddell & Reed Financial during the first quarter worth approximately $201,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Waddell & Reed Financial by 0.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,310 shares of the asset manager’s stock worth $209,000 after buying an additional 50 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its position in shares of 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 worth $215,000 after buying an additional 2,042 shares during the last quarter. 93.87% of the stock is currently owned by institutional investors.

Waddell & Reed Financial, Inc. (NYSE WDR) traded down 0.05% during trading on Tuesday, reaching $18.73. 137,673 shares of the company were exchanged. The stock has a market capitalization of $1.57 billion, a PE ratio of 11.77 and a beta of 2.04. Waddell & Reed Financial, Inc. has a 52-week low of $15.02 and a 52-week high of $22.45. The firm’s 50 day moving average is $19.86 and its 200 day moving average is $18.23.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 return on equity of 18.75% and a net margin of 11.34%. The business’s revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. Analysts expect that Waddell & Reed Financial, Inc. will post $1.45 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 11th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 9.82%. The ex-dividend date was Friday, July 7th. Waddell & Reed Financial’s dividend payout ratio is currently 115.72%.

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A number of brokerages have recently commented on WDR. Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 target price (down from $20.00) on shares of Waddell & Reed Financial in a report on Wednesday, August 2nd. Royal Bank Of Canada set a $18.00 target price on shares of Waddell & Reed Financial and gave the company a “sell” rating in a report on Wednesday, August 2nd. BidaskClub cut shares of Waddell & Reed Financial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $15.00 target price (up from $14.00) on shares of Waddell & Reed Financial in a report on Monday, July 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $20.00 target price on shares of Waddell & Reed Financial in a report on Thursday, August 3rd. Five analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $18.06.

In related news, VP Benjamin R. Clouse sold 5,903 shares of the company’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 sale, the vice president now directly owns 25,845 shares of the company’s stock, valued at approximately $517,158.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alan W. Kosloff sold 25,076 shares of the company’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 in the company, valued at $1,394,336.20. The disclosure for this sale can be found here. Corporate 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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