First National Advisers LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 16.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,982 shares of the business services provider’s stock after acquiring an additional 283 shares during the period. First National Advisers LLC’s holdings in Broadridge Financial Solutions were worth $286,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dark Forest Capital Management LP purchased a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $25,000. Venture Visionary Partners LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth approximately $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth approximately $29,000. Clear Street Markets LLC grew its position in Broadridge Financial Solutions by 406.3% during the second quarter. Clear Street Markets LLC now owns 243 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 195 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in Broadridge Financial Solutions in the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.45% of the company’s stock.
Insider Activity at Broadridge Financial Solutions
In related news, Director Thomas J. Perna sold 42,417 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $147.57, for a total value of $6,259,476.69. Following the transaction, the director now directly owns 29,704 shares in the company, valued at approximately $4,383,419.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.
Broadridge Financial Solutions Stock Down 2.2 %
Broadridge Financial Solutions (NYSE:BR – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.03). The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. Broadridge Financial Solutions had a net margin of 9.01% and a return on equity of 39.99%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 earnings per share. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 6.93 EPS for the current year.
Broadridge Financial Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 5th. Investors of record on Thursday, December 15th were issued a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Wednesday, December 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 65.91%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on BR shares. Wolfe Research lowered their price target on shares of Broadridge Financial Solutions from $137.00 to $135.00 in a report on Thursday, January 5th. TheStreet lowered Broadridge Financial Solutions from a “b” rating to a “c+” rating in a research report on Wednesday, November 2nd. StockNews.com assumed coverage on Broadridge Financial Solutions in a report on Wednesday, October 12th. They set a “hold” rating for the company. Raymond James lowered their price target on Broadridge Financial Solutions from $189.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. Finally, DA Davidson cut their price objective on shares of Broadridge Financial Solutions to $160.00 in a research report on Thursday, October 27th.
About Broadridge Financial Solutions
Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.
- Get a free copy of the StockNews.com research report on Broadridge Financial Solutions (BR)
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