Broadridge Financial Solutions Inc. (BR) Shares Sold by Aperio Group LLC
Aperio Group LLC reduced its stake in shares of Broadridge Financial Solutions Inc. (NYSE:BR) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,262 shares of the company’s stock after selling 2,054 shares during the period. Aperio Group LLC owned 0.07% of Broadridge Financial Solutions worth $5,712,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. World Asset Management Inc raised its stake in shares of Broadridge Financial Solutions by 27.8% in the third quarter. World Asset Management Inc now owns 8,082 shares of the company’s stock worth $548,000 after buying an additional 1,756 shares during the last quarter. Henderson Group PLC raised its stake in shares of Broadridge Financial Solutions by 12.0% in the second quarter. Henderson Group PLC now owns 535,293 shares of the company’s stock worth $34,901,000 after buying an additional 57,345 shares during the last quarter. PGGM Investments raised its stake in shares of Broadridge Financial Solutions by 7.5% in the second quarter. PGGM Investments now owns 510,588 shares of the company’s stock worth $33,290,000 after buying an additional 35,451 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Broadridge Financial Solutions by 3.0% in the second quarter. Nationwide Fund Advisors now owns 1,139,943 shares of the company’s stock worth $74,324,000 after buying an additional 33,559 shares during the last quarter. Finally, Hilton Capital Management LLC raised its stake in shares of Broadridge Financial Solutions by 7.9% in the third quarter. Hilton Capital Management LLC now owns 199,130 shares of the company’s stock worth $13,499,000 after buying an additional 14,620 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Broadridge Financial Solutions Inc. (NYSE:BR) traded up 0.12% during trading on Monday, hitting $65.94. The stock had a trading volume of 544,530 shares. The firm has a 50-day moving average price of $64.41 and a 200 day moving average price of $66.03. Broadridge Financial Solutions Inc. has a 52 week low of $48.56 and a 52 week high of $71.74. The company has a market capitalization of $7.85 billion, a PE ratio of 26.06 and a beta of 1.10.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, November 9th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. The business earned $895 million during the quarter, compared to the consensus estimate of $880.41 million. Broadridge Financial Solutions had a return on equity of 34.10% and a net margin of 9.62%. Broadridge Financial Solutions’s revenue was up 50.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities analysts anticipate that Broadridge Financial Solutions Inc. will post $3.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a $0.33 dividend. The ex-dividend date is Monday, December 12th. This represents a $1.32 dividend on an annualized basis and a yield of 2.00%. Broadridge Financial Solutions’s dividend payout ratio is currently 52.17%.
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A number of analysts have recently commented on BR shares. Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, October 11th. Sandler O’Neill lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research note on Thursday, September 29th. Atlantic Securities initiated coverage on Broadridge Financial Solutions in a research note on Tuesday, September 13th. They set an “overweight” rating and a $82.00 price target on the stock. Finally, Barclays PLC raised their price objective on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $72.60.
In other news, insider Richard J. Daly sold 103,823 shares of the company’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $68.80, for a total value of $7,143,022.40. Following the completion of the transaction, the insider now directly owns 257,133 shares in the company, valued at approximately $17,690,750.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie A. Brun sold 7,925 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $62.66, for a total value of $496,580.50. Following the completion of the transaction, the director now owns 30,622 shares of the company’s stock, valued at $1,918,774.52. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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