Broadridge Financial Solutions, Inc. (BR) Stake Boosted by Boston Private Wealth LLC
Boston Private Wealth LLC raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,738 shares of the business services provider’s stock after buying an additional 289 shares during the period. Boston Private Wealth LLC owned 0.15% of Broadridge Financial Solutions worth $13,052,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. Sawgrass Asset Management LLC increased its stake in shares of Broadridge Financial Solutions by 16.2% in the first quarter. Sawgrass Asset Management LLC now owns 364,618 shares of the business services provider’s stock worth $24,776,000 after buying an additional 50,840 shares during the last quarter. Sit Investment Associates Inc. increased its stake in shares of Broadridge Financial Solutions by 250.0% in the first quarter. Sit Investment Associates Inc. now owns 6,300 shares of the business services provider’s stock valued at $428,000 after buying an additional 4,500 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Broadridge Financial Solutions by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,176 shares of the business services provider’s stock valued at $202,000 after buying an additional 174 shares in the last quarter. Northwest Investment Counselors LLC increased its stake in shares of Broadridge Financial Solutions by 1.5% in the first quarter. Northwest Investment Counselors LLC now owns 11,864 shares of the business services provider’s stock valued at $806,000 after buying an additional 170 shares in the last quarter. Finally, Nippon Life Insurance Co. purchased a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $788,000. Hedge funds and other institutional investors own 85.18% of the company’s stock.
Shares of Broadridge Financial Solutions, Inc. (BR) opened at 76.30 on Monday. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $78.00. The stock has a 50 day moving average price of $75.41 and a 200 day moving average price of $71.81. The firm has a market capitalization of $8.89 billion, a P/E ratio of 28.26 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. Broadridge Financial Solutions’s quarterly revenue was up 38.1% on a year-over-year basis. Analysts forecast that Broadridge Financial Solutions, Inc. will post $3.71 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, September 14th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio is 48.35%.
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Several analysts have recently commented on the company. DA Davidson assumed coverage on Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price for the company. BidaskClub downgraded Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, Barclays PLC raised their target price on Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus price target of $76.00.
In other Broadridge Financial Solutions news, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the sale, the director now owns 39,747 shares in the company, valued at $3,043,825.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher John Perry sold 66,516 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $74.40, for a total transaction of $4,948,790.40. Following the completion of the sale, the senior vice president now owns 63,665 shares in the company, valued at approximately $4,736,676. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,334 shares of company stock worth $18,844,203. Corporate 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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