Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,672 shares of the business services provider’s stock after purchasing an additional 900 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Broadridge Financial Solutions were worth $17,075,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BR. Whittier Trust Co. grew its position in Broadridge Financial Solutions by 117.3% during the fourth quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock worth $28,000 after buying an additional 156 shares in the last quarter. Pinnacle Bank acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $34,000. 1832 Asset Management L.P. acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $39,000. Capital Financial Planning LLC acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $39,000. Finally, CX Institutional acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $41,000. Institutional investors own 84.35% of the company’s stock.
Shares of BR stock opened at $117.93 on Monday. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. Broadridge Financial Solutions, Inc. has a fifty-two week low of $91.34 and a fifty-two week high of $138.24. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.62 and a current ratio of 1.62.
Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, February 7th. The business services provider reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.15). The business had revenue of $953.40 million during the quarter, compared to analyst estimates of $967.21 million. Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 EPS. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 4.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 46.30%.
In related news, VP Thomas P. Carey sold 1,215 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $108.82, for a total transaction of $132,216.30. Following the sale, the vice president now owns 4,202 shares of the company’s stock, valued at approximately $457,261.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan J. Weber sold 1,980 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total value of $198,712.80. Following the sale, the director now directly owns 51,588 shares in the company, valued at approximately $5,177,371.68. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
BR has been the topic of a number of analyst reports. DA Davidson raised Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Friday, February 8th. Zacks Investment Research raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research report on Wednesday, April 10th. SunTrust Banks reissued a “buy” rating and set a $110.00 price target on shares of Broadridge Financial Solutions in a research report on Sunday, January 6th. Finally, Raymond James raised Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a research report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Broadridge Financial Solutions presently has a consensus rating of “Buy” and a consensus price target of $119.67.
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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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