Waddell & Reed Financial (WDR) was Reiterated by RBC Capital Mkts to “Outperform” while Lowering the Price Target of the company shares to $ 29 from a previous price target of $32 . RBC Capital Mkts advised their investors in a research report released on Apr 27, 2016.
Many Wall Street Analysts have commented on Waddell & Reed Financial. Shares were Reiterated by RBC Capital Mkts on Apr 18, 2016 to “Outperform” and Lowered the Price Target to $ 32 from a previous price target of $37 .Waddell & Reed Financial was Downgraded by BofA/Merrill to ” Underperform” on Mar 15, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 3, 2016 to “Outperform” and Lowered the Price Target to $ 37 from a previous price target of $44 .
On the company’s financial health, Waddell & Reed Financial reported $0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $0.55. The company had revenue of $323.81 million for the quarter, compared to analysts expectations of $327.59 million. The company’s revenue was down -16.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.80 EPS.
Waddell & Reed Financial opened for trading at $23.15 and hit $23.59 on the upside on Friday, eventually ending the session at $23.38, with a gain of 0.91% or 0.21 points. The heightened volatility saw the trading volume jump to 13,15,765 shares. Company has a market cap of $1,912 M.
In a different news, on Aug 4, 2015, James M Raines (director) sold 3,000 shares at $44.96 per share price. According to the SEC, on May 26, 2015, Dennis E Logue (director) sold 2,700 shares at $48.30 per share price. On Feb 11, 2015, Michael L Avery (President) purchased 5,500 shares at $48.64 per share price, according to the Form-4 filing with the securities and exchange commission.
Waddell & Reed Financial Inc. 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 Ivy Funds Ivy Funds Variable Insurance Portfolios InvestEd Portfolios 529 college savings and Selector Management Fund SICAV and its Ivy Global Investors sub-funds and institutional and separately managed accounts. The Company operates its business through a distribution network. Its retail products are distributed through its Wholesale channel which includes third parties such as other broker/dealers registered investment advisors and various retirement platforms or through its Advisors channel sales force of independent financial advisors. It also markets investment advisory services to institutional investors either directly or through consultants in its Institutional channel.