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5 Stocks Pushing The Financial Services Industry Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average (^DJI) trading down 54 points (-0.3%) at 16,409 as of Thursday, Jan. 9, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,224 issues advancing vs. 1,713 declining with 144 unchanged.

The Financial Services industry currently sits down 0.2% versus the S&P 500, which is down 0.2%. On the negative front, top decliners within the industry include Virtus Investment Partners (VRTS), down 2.9%, MarketAxess Holdings (MKTX), down 2.1%, Western Union Company (WU), down 1.4%, Invesco (IVZ), down 1.0% and Nomura Holdings (NMR), down 0.8%. A company within the industry that increased today was Raymond James Financial (RJF), up 0.9%.

TheStreet would like to highlight 5 stocks pushing the industry lower today:

5. Waddell & Reed Financial (WDR) is one of the companies pushing the Financial Services industry lower today. As of noon trading, Waddell & Reed Financial is down $0.73 (-1.1%) to $65.95 on average volume. Thus far, 250,160 shares of Waddell & Reed Financial exchanged hands as compared to its average daily volume of 653,600 shares. The stock has ranged in price between $65.78-$67.12 after having opened the day at $66.94 as compared to the previous trading day's close of $66.68.

Waddell & Reed Financial, Inc., through its subsidiaries, 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. Waddell & Reed Financial has a market cap of $5.7 billion and is part of the financial sector. The company has a P/E ratio of 25.2, above the S&P 500 P/E ratio of 17.7. Shares are up 2.9% year to date as of the close of trading on Wednesday. Currently there are 2 analysts that rate Waddell & Reed Financial a buy, 1 analyst rates it a sell, and 6 rate it a hold.

TheStreet Ratings rates Waddell & Reed Financial as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Waddell & Reed Financial Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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