Broadridge Financial Solutions, Inc. (BR) Position Cut by FineMark National Bank & Trust
FineMark National Bank & Trust reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 50.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,518 shares of the business services provider’s stock after selling 1,545 shares during the period. FineMark National Bank & Trust’s holdings in Broadridge Financial Solutions were worth $200,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in BR. Truvestments Capital LLC acquired a new stake in Broadridge Financial Solutions during the third quarter worth about $106,000. Squar Milner Financial Services LLC acquired a new stake in Broadridge Financial Solutions during the second quarter worth about $109,000. Bartlett & Co. LLC increased its position in Broadridge Financial Solutions by 375.0% during the second quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock worth $109,000 after purchasing an additional 750 shares during the last quarter. Fort L.P. acquired a new stake in Broadridge Financial Solutions during the second quarter worth about $120,000. Finally, Signaturefd LLC increased its position in Broadridge Financial Solutions by 101.6% during the second quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock worth $128,000 after purchasing an additional 562 shares during the last quarter. Hedge funds and other institutional investors own 84.55% of the company’s stock.
Shares of BR stock opened at $107.21 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.69 and a debt-to-equity ratio of 0.93. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 2.32 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 1-year low of $86.80 and a 1-year high of $138.24.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.30%.
In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 210,188 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the completion of the transaction, the chief executive officer now owns 387,336 shares of the company’s stock, valued at $51,182,579.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard J. Daly sold 67,974 shares of the stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the transaction, the chief executive officer now directly owns 233,673 shares of the company’s stock, valued at approximately $29,585,338.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 325,354 shares of company stock valued at $42,709,350. 2.30% of the stock is currently owned by insiders.
BR has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, July 17th. They set a “market perform” rating for the company. Sandler O’Neill reaffirmed a “hold” rating and set a $130.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Friday, August 10th. Finally, SunTrust Banks began coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, August 29th. They set a “buy” rating and a $150.00 target price for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $123.40.
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Broadridge Financial Solutions Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and offers ProxyEdge, an electronic proxy delivery and voting solution.
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