Citigroup Inc. reaffirmed their neutral rating on shares of Waddell & Reed Financial (NYSE:WDR) in a report released on Monday, American Banking & Market News reports. Citigroup Inc. currently has a $68.00 price objective on the stock, up from their previous price objective of $63.00.
“Following recent meetings with senior management. While we are on the prowl to add equity-centric exposure within Traditionals (beyond our current recommendation list of IVZ, BEN and TROW), we would prefer to look for a pull-back given both limited ETR to revised target and sharp YTD run-up. To reflect slightly higher operating margins and modestly stronger organic growth expectations. Revised estimates are $3.71 and $4.24 versus $3.70 and $4.15 prior. Reflecting improving AUM mix in the Advisor channel, building diversification within the Wholesale channel, stronger operating margins versus prior cycles, and continued strong capital return ? most notably via dividends. We believe a 17x-18x FTM P/E is now more sustainable versus 16x historically.,” Citigroup Inc.’s analyst wrote.
WDR has been the subject of a number of other recent research reports. Analysts at Morgan Stanley raised their price target on shares of Waddell & Reed Financial from $58.00 to $63.00 in a research note to investors on Wednesday, October 30th. They now have an equal weight rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Waddell & Reed Financial from $58.00 to $64.00 in a research note to investors on Wednesday, October 30th. Finally, analysts at Jefferies Group raised their price target on shares of Waddell & Reed Financial from $50.00 to $64.00 in a research note to investors on Wednesday, October 30th. They now have a hold rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $56.22.
In other Waddell & Reed Financial news, SVP Philip James Sanders sold 13,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $63.72, for a total value of $828,360.00. Following the transaction, the senior vice president now directly owns 229,261 shares of the company’s stock, valued at approximately $14,608,511. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Waddell & Reed Financial (NYSE:WDR) traded up 0.09% during mid-day trading on Monday, hitting $65.08. The stock had a trading volume of 63,660 shares. Waddell & Reed Financial has a 52-week low of $31.83 and a 52-week high of $66.09. The stock has a 50-day moving average of $58.83 and a 200-day moving average of $50.84. The company has a market cap of $5.559 billion and a price-to-earnings ratio of 24.46.
Waddell & Reed Financial (NYSE:WDR) last released its earnings data on Tuesday, October 29th. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.70 by $0.10. The company had revenue of $347.10 million for the quarter, compared to the consensus estimate of $335.30 million. During the same quarter last year, the company posted $0.61 earnings per share. Waddell & Reed Financial’s revenue was up 18.3% compared to the same quarter last year. On average, analysts predict that Waddell & Reed Financial will post $2.79 earnings per share for the current fiscal year.
Waddell & Reed Financial, Inc is engaged in providing investment management, investment product underwriting and distribution, and shareholder services administration to mutual funds and institutional and separately managed accounts.
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