Rothschild Asset Management Inc. cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,188 shares of the business services provider’s stock after selling 17 shares during the period. Rothschild Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $468,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Broadridge Financial Solutions by 5,792.7% in the first quarter. BlackRock Inc. now owns 12,054,537 shares of the business services provider’s stock valued at $819,107,000 after buying an additional 11,849,968 shares during the period. Vanguard Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 3.8% in the first quarter. Vanguard Group Inc. now owns 10,101,144 shares of the business services provider’s stock valued at $686,373,000 after buying an additional 369,176 shares during the last quarter. Independence Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter valued at about $21,006,000. Scout Investments Inc. purchased a new stake in shares of Broadridge Financial Solutions during the first quarter valued at about $14,727,000. Finally, Baird Financial Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 53.0% in the first quarter. Baird Financial Group Inc. now owns 646,253 shares of the business services provider’s stock valued at $43,913,000 after buying an additional 223,959 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.
Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 74.27 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $78.00. The firm has a market cap of $8.65 billion, a PE ratio of 27.51 and a beta of 0.99. The firm’s 50-day moving average price is $75.36 and its 200 day moving average price is $71.49.
Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned $1.45 earnings per share. The firm’s revenue was up 38.1% on a year-over-year basis. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post $3.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be paid a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, September 14th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 48.35%.
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Several brokerages have issued reports on BR. BidaskClub cut Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays PLC upped their price objective on Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, DA Davidson began coverage on Broadridge Financial Solutions in a research note on Monday, August 7th. They set a “neutral” rating and a $74.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $76.00.
In related news, VP Laura Matlin sold 630 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $71.89, for a total value of $45,290.70. Following the completion of the sale, the vice president now owns 5,271 shares in the company, valued at $378,932.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Schifellite sold 76,666 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the completion of the sale, the insider now owns 105,042 shares of the company’s stock, valued at approximately $7,981,091.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,032 shares of company stock valued at $24,016,648. 3.50% of the stock is owned by corporate insiders.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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