Citizens Financial Group Inc RI raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 155.2% during the first quarter, HoldingsChannel.com reports. The fund owned 934 shares of the business services provider’s stock after acquiring an additional 568 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Broadridge Financial Solutions were worth $89,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. CI Investments Inc. grew its position in Broadridge Financial Solutions by 7.2% in the fourth quarter. CI Investments Inc. now owns 1,250 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 84 shares during the period. Albion Financial Group UT grew its position in Broadridge Financial Solutions by 4.4% in the fourth quarter. Albion Financial Group UT now owns 2,033 shares of the business services provider’s stock valued at $251,000 after acquiring an additional 85 shares during the period. Pacer Advisors Inc. grew its position in Broadridge Financial Solutions by 4.2% in the first quarter. Pacer Advisors Inc. now owns 2,295 shares of the business services provider’s stock valued at $252,000 after acquiring an additional 92 shares during the period. Argent Trust Co grew its position in Broadridge Financial Solutions by 4.9% in the fourth quarter. Argent Trust Co now owns 1,999 shares of the business services provider’s stock valued at $247,000 after acquiring an additional 93 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in Broadridge Financial Solutions by 0.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 17,266 shares of the business services provider’s stock valued at $2,133,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 84.58% of the company’s stock.
In other news, CFO James M. Young sold 98,336 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $119.46, for a total transaction of $11,747,218.56. Following the transaction, the chief financial officer now owns 68,629 shares of the company’s stock, valued at $8,198,420.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie A. Brun sold 4,500 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $105.92, for a total value of $476,640.00. Following the completion of the transaction, the director now directly owns 46,360 shares in the company, valued at approximately $4,910,451.20. The disclosure for this sale can be found here. Insiders have sold 121,583 shares of company stock worth $14,294,469 in the last ninety days. 2.20% of the stock is currently owned by insiders.
Broadridge Financial Solutions stock opened at $117.79 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $13.52 billion, a P/E ratio of 25.61 and a beta of 0.90. The business’s fifty day moving average is $109.92 and its two-hundred day moving average is $115.67. Broadridge Financial Solutions, Inc. has a 52 week low of $81.90 and a 52 week high of $136.99.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.03). Broadridge Financial Solutions had a net margin of 9.50% and a return on equity of 46.99%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company earned $1.59 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 4.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, June 11th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.35%.
A number of brokerages have weighed in on BR. Rosenblatt Securities upped their price target on Broadridge Financial Solutions from $101.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Raymond James raised Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Friday, February 28th. BTIG Research reissued a “buy” rating and issued a $135.00 price objective on shares of Broadridge Financial Solutions in a research note on Friday, May 8th. Finally, DA Davidson raised Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $134.00 to $138.00 in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $132.67.
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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