Eagle Asset Management Inc. Has $16,722,000 Position in Broadridge Financial Solutions Inc. (BR)
Eagle Asset Management Inc. cut its position in shares of Broadridge Financial Solutions Inc. (NYSE:BR) by 37.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 246,675 shares of the company’s stock after selling 149,029 shares during the period. Eagle Asset Management Inc. owned about 0.21% of Broadridge Financial Solutions worth $16,722,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in Broadridge Financial Solutions by 12.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,574 shares of the company’s stock worth $103,000 after buying an additional 176 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Broadridge Financial Solutions by 214.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,125 shares of the company’s stock worth $139,000 after buying an additional 1,450 shares during the last quarter. Capital Guardian Trust Co. increased its stake in Broadridge Financial Solutions by 13.4% in the second quarter. Capital Guardian Trust Co. now owns 2,525 shares of the company’s stock worth $165,000 after buying an additional 299 shares during the last quarter. IFP Advisors Inc boosted its position in Broadridge Financial Solutions by 17.5% in the second quarter. IFP Advisors Inc now owns 2,649 shares of the company’s stock worth $173,000 after buying an additional 395 shares during the period. Finally, Strs Ohio bought a new position in Broadridge Financial Solutions during the second quarter worth $173,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
Broadridge Financial Solutions Inc. (NYSE:BR) traded down 2.03% during trading on Wednesday, reaching $65.53. The company had a trading volume of 121,780 shares. The stock has a market cap of $7.80 billion, a PE ratio of 25.90 and a beta of 1.10. The company has a 50-day moving average price of $64.38 and a 200 day moving average price of $66.13. Broadridge Financial Solutions Inc. has a 52-week low of $48.56 and a 52-week high of $71.74.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by $0.02. The firm had revenue of $895 million for the quarter, compared to analysts’ expectations of $880.41 million. Broadridge Financial Solutions had a return on equity of 34.10% and a net margin of 9.62%. The firm’s quarterly revenue was up 50.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 earnings per share. On average, analysts anticipate that Broadridge Financial Solutions Inc. will post $3.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Monday, December 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 52.17%.
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BR has been the subject of a number of analyst reports. Zacks Investment Research cut Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. Sandler O’Neill cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price target for the company. in a report on Thursday, September 29th. Barclays PLC boosted their price target on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Finally, Atlantic Securities initiated coverage on Broadridge Financial Solutions in a report on Tuesday, September 13th. They issued an “overweight” rating and a $82.00 price target for the company. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.60.
In related news, insider Robert Schifellite sold 9,000 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $69.30, for a total value of $623,700.00. Following the completion of the sale, the insider now directly owns 82,937 shares in the company, valued at $5,747,534.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stuart R. Levine sold 8,170 shares of Broadridge Financial Solutions stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $64.98, for a total value of $530,886.60. Following the completion of the sale, the director now owns 35,130 shares of the company’s stock, valued at $2,282,747.40. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
About Broadridge Financial Solutions
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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