Meeder Asset Management Inc. Trims Stake in Broadridge Financial Solutions, Inc. (BR)
Meeder Asset Management Inc. cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 70.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,540 shares of the business services provider’s stock after selling 10,963 shares during the period. Meeder Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $599,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of BR. Truvestments Capital LLC bought a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $106,000. Squar Milner Financial Services LLC bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $109,000. Bartlett & Co. LLC grew its holdings in Broadridge Financial Solutions by 375.0% during the 2nd quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 750 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $129,000. Finally, Fort L.P. bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $120,000. Hedge funds and other institutional investors own 84.55% of the company’s stock.
In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 67,974 shares of the company’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $126.61, for a total value of $8,606,188.14. Following the transaction, the chief executive officer now directly owns 233,673 shares in the company, valued at approximately $29,585,338.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard J. Daly sold 210,188 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was 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 in the company, valued at $51,182,579.04. The disclosure for this sale can be found here. Insiders sold a total of 325,354 shares of company stock worth $42,709,350 over the last 90 days. Insiders own 2.30% of the company’s stock.
Shares of BR stock opened at $107.21 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.28 and a current ratio of 1.69. The stock has a market capitalization 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 one year low of $86.80 and a one year high of $138.24.
Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 6th. The business services provider reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.11. The business had revenue of $973.00 million for the quarter, compared to the consensus estimate of $970.19 million. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 4.68 EPS for the current fiscal year.
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 $0.485 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.94 dividend on an annualized basis and a yield of 1.81%. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.
Broadridge Financial Solutions Company 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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