Fulton Bank N.A. Has $378,000 Position in Broadridge Financial Solutions, Inc. (BR)
Fulton Bank N.A. lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 19.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,687 shares of the business services provider’s stock after selling 1,114 shares during the quarter. Fulton Bank N.A.’s holdings in Broadridge Financial Solutions were worth $378,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Intl Fcstone Inc. acquired a new stake in Broadridge Financial Solutions during the second quarter worth approximately $1,889,000. Toronto Dominion Bank boosted its holdings in shares of Broadridge Financial Solutions by 11.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 149 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Broadridge Financial Solutions by 82.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 706 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $691,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $1,030,000. 83.69% of the stock is currently owned by institutional investors and hedge funds.
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BR has been the topic of a number of research analyst reports. BidaskClub downgraded Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a report on Friday, July 7th. 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 report on Friday, August 11th. Finally, DA Davidson initiated coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price on the stock.
Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) traded down 0.12% during midday trading on Thursday, hitting $83.51. The company’s stock had a trading volume of 38,277 shares. Broadridge Financial Solutions, Inc. has a 52-week low of $59.86 and a 52-week high of $83.85. The firm has a market cap of $9.73 billion, a P/E ratio of 30.93 and a beta of 0.99. The stock’s 50 day moving average is $80.54 and its 200-day moving average is $75.31.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The business’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. Equities analysts predict that Broadridge Financial Solutions, Inc. will post $3.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th were issued a $0.365 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.46 annualized dividend and a dividend yield of 1.75%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio is presently 53.48%.
In other news, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the transaction, the director now owns 39,747 shares of the company’s stock, valued at $3,043,825.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Richard J. Daly sold 94,039 shares of the company’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total transaction of $7,706,496.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,720 shares of company stock worth $9,679,916. Insiders own 2.60% 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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