CIBC World Markets Inc. Trims Stake in Waddell & Reed Financial, Inc. (NYSE:WDR)

Share on StockTwits

CIBC World Markets Inc. trimmed its position in shares of Waddell & Reed Financial, Inc. (NYSE:WDR) by 29.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 11,910 shares of the asset manager’s stock after selling 4,879 shares during the period. CIBC World Markets Inc.’s holdings in Waddell & Reed Financial were worth $206,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Waddell & Reed Financial by 17.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,744 shares of the asset manager’s stock valued at $122,000 after buying an additional 1,012 shares during the last quarter. 6 Meridian acquired a new stake in shares of Waddell & Reed Financial during the 1st quarter valued at about $204,000. Chicago Equity Partners LLC lifted its holdings in shares of Waddell & Reed Financial by 773.5% during the 4th quarter. Chicago Equity Partners LLC now owns 151,370 shares of the asset manager’s stock valued at $2,737,000 after buying an additional 134,040 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of Waddell & Reed Financial by 2.1% during the 4th quarter. Texas Permanent School Fund now owns 51,251 shares of the asset manager’s stock valued at $927,000 after buying an additional 1,066 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its holdings in shares of Waddell & Reed Financial by 3.1% during the 4th quarter. Brandywine Global Investment Management LLC now owns 256,988 shares of the asset manager’s stock valued at $4,647,000 after buying an additional 7,720 shares during the last quarter. Institutional investors and hedge funds own 98.19% of the company’s stock.

In related news, Director Dennis E. Logue sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $16.72, for a total value of $83,600.00. Following the completion of the sale, the director now directly owns 69,452 shares in the company, valued at approximately $1,161,237.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.13% of the stock is currently owned by insiders.

Several research firms recently weighed in on WDR. Gabelli restated a “buy” rating on shares of Waddell & Reed Financial in a report on Wednesday, May 1st. Bank of America upgraded Waddell & Reed Financial from an “underperform” rating to a “neutral” rating and set a $18.59 target price for the company in a report on Friday, April 12th. Finally, Zacks Investment Research upgraded Waddell & Reed Financial from a “sell” rating to a “hold” rating and set a $20.00 target price for the company in a report on Tuesday, April 9th. Four 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. Waddell & Reed Financial has an average rating of “Hold” and a consensus target price of $18.66.

WDR opened at $16.93 on Thursday. Waddell & Reed Financial, Inc. has a twelve month low of $15.97 and a twelve month high of $21.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.41 and a quick ratio of 1.46. The company has a market capitalization of $1.24 billion, a P/E ratio of 7.43, a P/E/G ratio of 4.17 and a beta of 1.50.

Waddell & Reed Financial (NYSE:WDR) last posted its earnings results on Tuesday, April 30th. The asset manager reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Waddell & Reed Financial had a return on equity of 19.31% and a net margin of 15.09%. The firm had revenue of $259.40 million during the quarter, compared to analyst estimates of $262.55 million. During the same period in the previous year, the company earned $0.56 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities analysts expect that Waddell & Reed Financial, Inc. will post 1.59 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “CIBC World Markets Inc. Trims Stake in Waddell & Reed Financial, Inc. (NYSE:WDR)” was originally reported by Zolmax and is the sole property of of Zolmax. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://zolmax.com/investing/cibc-world-markets-inc-trims-stake-in-waddell-reed-financial-inc-nysewdr/3112756.html.

About Waddell & Reed Financial

Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.

Featured Article: How is the discount rate different from the Federal Funds rate?

Want to see what other hedge funds are holding WDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waddell & Reed Financial, Inc. (NYSE:WDR).

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

Receive News & Ratings for Waddell & Reed Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waddell & Reed Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Global Li-Ion Graphite   Shares Down 3.6%
Global Li-Ion Graphite Shares Down 3.6%
Renaissance Oil  Stock Price Up 3.6%
Renaissance Oil Stock Price Up 3.6%
Sonoco Products Co  Plans Quarterly Dividend of $0.43
Sonoco Products Co Plans Quarterly Dividend of $0.43
Canadian Pacific Railway  Price Target Raised to C$335.00 at National Bank Financial
Canadian Pacific Railway Price Target Raised to C$335.00 at National Bank Financial
Paymon Trading 25.6% Higher  This Week
Paymon Trading 25.6% Higher This Week
Knoll Inc  Expected to Announce Earnings of $0.44 Per Share
Knoll Inc Expected to Announce Earnings of $0.44 Per Share


 
© 2006-2019 Zolmax.