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WDR - Waddell & Reed Financial: 6% Yield And Meets Graham's Criteria For Defensive Investors
Waddell & Reed Financial Inc.
I wrote about Waddell & Reed (WDR) in March 2017 (Waddell & Reed Financial Deserves A Second Look) when it was trading at $18.10/share. At that time, WDR, which is an asset manager and financial advisory firm overseeing actively managed mutual funds, was facing challenges from the trend toward cheaper, passive index funds, a loss of key portfolio managers, and the prospect of new fiduciary rules. WDR had seen its assets under management ((AUM)) drop from a peak of $126.5 billion in 2013 to $80.5 billion at the end of 2016.