The Manufacturers Life Insurance Company Raises Position in Broadridge Financial Solutions, Inc. (BR)

The Manufacturers Life Insurance Company increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,004 shares of the business services provider’s stock after buying an additional 2,300 shares during the period. The Manufacturers Life Insurance Company owned 0.15% of Broadridge Financial Solutions worth $13,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth about $108,000. Global X Management Co. LLC lifted its position in Broadridge Financial Solutions by 8.5% during the 2nd quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after buying an additional 120 shares in the last quarter. Commonwealth Bank of Australia lifted its position in Broadridge Financial Solutions by 60.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after buying an additional 600 shares in the last quarter. ETF Managers Group LLC acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth about $144,000. Finally, Airain ltd acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth about $204,000. Institutional investors and hedge funds own 83.69% of the company’s stock.

Broadridge Financial Solutions, Inc. (BR) opened at 83.67 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $59.86 and a 12 month high of $83.85. The company’s 50-day moving average is $80.74 and its 200 day moving average is $75.37. The firm has a market cap of $9.75 billion, a P/E ratio of 30.99 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. Broadridge Financial Solutions’s revenue was up 38.1% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post $3.72 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, September 15th were paid a $0.365 dividend. The ex-dividend date was Thursday, September 14th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. This represents a $1.46 annualized dividend and a yield of 1.74%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 53.48%.

BR has been the topic of several research reports. BidaskClub downgraded shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. Barclays PLC upped their price target on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Finally, DA Davidson initiated coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They set a “neutral” rating and a $74.00 price target on the stock.

COPYRIGHT VIOLATION NOTICE: “The Manufacturers Life Insurance Company Raises Position in Broadridge Financial Solutions, Inc. (BR)” was originally posted by Transcript Daily and is the property of of Transcript Daily. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://transcriptdaily.com/2017/10/20/the-manufacturers-life-insurance-company-raises-position-in-broadridge-financial-solutions-inc-br.html.

In other news, insider Richard J. Daly sold 94,039 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total transaction of $7,706,496.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stuart R. Levine sold 7,868 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the sale, the director now directly owns 39,747 shares in the company, valued at $3,043,825.26. The disclosure for this sale can be found here. Insiders sold 119,720 shares of company stock worth $9,679,916 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions 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.

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply