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WDR

Waddell & Reed

$17.45

-0.24 (-1.36%)

06:48
10/17/16
10/17
06:48
10/17/16
06:48

Waddell & Reed downgraded to Sell from Neutral at Citi

Citi analyst William Katz downgraded Waddell & Reed to Sell and lowered his price target for the shares to $14.50 from $17 in a research note previewing Q3 earnings for Asset Managers. The analyst recommends starting selective into earnings.

  • 25

    Oct

WDR Waddell & Reed
$17.45

-0.24 (-1.36%)

03/15/16
BOFA
03/15/16
DOWNGRADE
Target $24
BOFA
Underperform
Waddell & Reed downgraded to Underperform at BofA/Merrill
As previously reported, BofA/Merrill downgraded Waddell & Reed to Underperform from Neutral with a $24 price target on shares. Analyst Michael Carrier said flows and performance are weighing on organic growth and said he does not see near-term catalysts that will drive an improvement in trends.
04/07/16
RBCM
04/07/16
NO CHANGE
RBCM
Waddell & Reed could see significant hit from rule change, says RBC Capital
After the Department of Labor announced a fiduciary rule change for indexed annuities, RBC Capital believes that sales of Waddell (WDR) funds will decline as a result of the rule change, while the company may have to increase the compensation it pays its advisors to make up for the compensation they will lose due to the rule change. The firm estimates that the company's EPS could drop to $2.74 from its current level of about $3. RBC adds that the rule will have an immaterial impact on the other insurance companies it covers - Ameriprise (AMP), Lincoln National (LNC), Principal Financial (PFG), and American Equity (AEL).
05/24/16
SBSH
05/24/16
NO CHANGE
Target $20
SBSH
Sell
Waddell & Reed CEO retirement a short-term negative, says Citi
Citi analyst William Katz views the retirement of Waddell & Reed CEO Hank Herrmann as a "negative in the short-term for several reasons." Investors may question "the breadth of the change" with Herrmann remaining on as non-executive Chairman, Katz tells investors in a research note. Further, he believes a company sale not imminent, which he points out was a recent bullish argument, and that management changes could add further pressure to already elevated attrition. The analyst keeps a Sell rating on Waddell with a $20 price target.
07/12/16
SBSH
07/12/16
UPGRADE
SBSH
Neutral
Waddell & Reed upgraded to Neutral from Sell at Citi

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