Dynamic Technology Lab Private Ltd Takes $691,000 Position in Broadridge Financial Solutions, Inc. (BR)
Dynamic Technology Lab Private Ltd acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,141 shares of the business services provider’s stock, valued at approximately $691,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. WINTON GROUP Ltd bought a new stake in Broadridge Financial Solutions during the second quarter worth approximately $1,030,000. GWM Advisors LLC raised its holdings in Broadridge Financial Solutions by 85.6% during the second quarter. GWM Advisors LLC now owns 6,123 shares of the business services provider’s stock worth $458,000 after purchasing an additional 2,824 shares in the last quarter. Colony Group LLC raised its holdings in Broadridge Financial Solutions by 13.4% during the second quarter. Colony Group LLC now owns 119,833 shares of the business services provider’s stock worth $9,055,000 after purchasing an additional 14,157 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Broadridge Financial Solutions by 0.7% during the second quarter. Ameritas Investment Partners Inc. now owns 45,485 shares of the business services provider’s stock worth $3,437,000 after purchasing an additional 319 shares in the last quarter. Finally, Castleark Management LLC bought a new stake in Broadridge Financial Solutions during the second quarter worth approximately $413,000. Institutional investors and hedge funds own 83.69% of the company’s stock.
Shares of Broadridge Financial Solutions, Inc. (NYSE BR) opened at 83.30 on Thursday. The company’s 50-day moving average price is $80.54 and its 200 day moving average price is $75.31. Broadridge Financial Solutions, Inc. has a one year low of $59.86 and a one year high of $83.85. The company has a market cap of $9.70 billion, a PE ratio of 30.85 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business posted $1.45 earnings per share. Broadridge Financial Solutions’s revenue was up 38.1% compared to the same quarter last year. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post $3.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, September 15th were issued a $0.365 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. This represents a $1.46 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, September 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 53.48%.
BR has been the topic of several recent analyst reports. BidaskClub raised Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Barclays PLC boosted their target price on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Finally, DA Davidson initiated coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They set a “neutral” rating and a $74.00 target price on the stock.
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In related news, insider Richard J. Daly sold 94,039 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stuart R. Levine sold 7,868 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total transaction of $602,531.44. Following the completion of the transaction, the director now owns 39,747 shares in the company, valued at $3,043,825.26. The disclosure for this sale can be found here. Insiders sold 119,720 shares of company stock worth $9,679,916 over the last 90 days. 2.60% of the stock is currently 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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