Financial Management Professionals Inc. bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 350 shares of the business services provider’s stock, valued at approximately $44,000.
Several other hedge funds have also recently made changes to their positions in BR. Norges Bank purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth about $135,947,000. Wells Fargo & Company MN grew its holdings in shares of Broadridge Financial Solutions by 51.9% in the first quarter. Wells Fargo & Company MN now owns 1,890,826 shares of the business services provider’s stock worth $179,307,000 after purchasing an additional 645,729 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at $52,463,000. Ceredex Value Advisors LLC purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter worth about $48,136,000. Finally, Janus Henderson Group PLC raised its position in Broadridge Financial Solutions by 5.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,505,192 shares of the business services provider’s stock worth $616,887,000 after buying an additional 358,193 shares during the last quarter. Institutional investors own 85.13% of the company’s stock.
In other Broadridge Financial Solutions news, VP Julie R. Taylor sold 10,733 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $124.06, for a total transaction of $1,331,535.98. Following the sale, the vice president now directly owns 20,457 shares of the company’s stock, valued at approximately $2,537,895.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James M. Young sold 98,336 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were 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 in the company, valued at $8,198,420.34. The disclosure for this sale can be found here. Insiders have sold 158,054 shares of company stock worth $19,209,467 in the last 90 days. Insiders own 2.20% of the company’s stock.
BR stock opened at $131.29 on Thursday. Broadridge Financial Solutions, Inc. has a 12-month low of $81.90 and a 12-month high of $136.37. The company has a market capitalization of $14.92 billion, a PE ratio of 36.98 and a beta of 0.88. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.40. The business’s fifty day moving average price is $125.57 and its 200 day moving average price is $116.41.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, May 8th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.03). The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. Broadridge Financial Solutions had a net margin of 9.50% and a return on equity of 46.99%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $1.59 earnings per share. Research analysts predict that Broadridge Financial Solutions, Inc. will post 4.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Thursday, June 11th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 46.35%.
Several research firms have weighed in on BR. Rosenblatt Securities upped their price target on Broadridge Financial Solutions from $101.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. BTIG Research reiterated a “buy” rating and issued a $135.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, May 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Broadridge Financial Solutions presently has an average rating of “Buy” and an average price target of $129.20.
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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