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Waddell & Reed Financial (WDR) provides investment management, 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; underwrites and distributes registered open-end mutual fund portfolios; and offers fee-based asset allocation investment advisory products to advisors channel customers.
It also distributes business partners variable annuity products, and retirement and life insurance products to advisors channel customers; and sells life insurance and disability products underwritten by various carriers.
The company distributes investment products through its wholesale channel comprising other broker/dealers, registered investment advisors, and various retirement platforms, as well as through independent financial advisors; and markets investment advisory services to institutional investors directly or through consultants.
Shares have formed a bullish "double bottom" after the company reported a better than expected quarterly report. Higher share prices are expected for this stock.
52-Week Trading Range: $41.53 - $76.46
Entry Point: $68.29
Stop Loss: $64.85
Target Price: $75.12
WDR closed at $65.40 after it fell below our stop loss.
