Westpac Banking Corp boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,408 shares of the business services provider’s stock after buying an additional 100 shares during the period. Westpac Banking Corp owned 0.05% of Broadridge Financial Solutions worth $7,710,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Private Ocean LLC grew its position in shares of Broadridge Financial Solutions by 48.8% in the third quarter. Private Ocean LLC now owns 244 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 80 shares in the last quarter. CX Institutional lifted its holdings in Broadridge Financial Solutions by 9.9% in the second quarter. CX Institutional now owns 897 shares of the business services provider’s stock valued at $113,000 after acquiring an additional 81 shares during the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in Broadridge Financial Solutions by 7.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,269 shares of the business services provider’s stock valued at $161,000 after acquiring an additional 87 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in Broadridge Financial Solutions by 7.0% in the second quarter. Glenmede Trust Co. NA now owns 1,444 shares of the business services provider’s stock valued at $181,000 after acquiring an additional 95 shares during the last quarter. Finally, Naples Global Advisors LLC lifted its holdings in Broadridge Financial Solutions by 4.3% in the second quarter. Naples Global Advisors LLC now owns 2,405 shares of the business services provider’s stock valued at $303,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 81.80% of the company’s stock.
In related news, Chairman Richard J. Daly sold 7,979 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $129.82, for a total value of $1,035,833.78. Following the completion of the sale, the chairman now owns 189,137 shares in the company, valued at $24,553,765.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Christopher John Perry sold 22,348 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $151.57, for a total transaction of $3,387,286.36. Following the completion of the sale, the president now owns 63,065 shares of the company’s stock, valued at approximately $9,558,762.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 256,378 shares of company stock valued at $34,773,316. 2.00% of the stock is owned by insiders.
Shares of NYSE BR opened at $144.92 on Friday. The stock has a market cap of $16.76 billion, a P/E ratio of 35.78 and a beta of 0.87. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.26. Broadridge Financial Solutions, Inc. has a 12-month low of $81.90 and a 12-month high of $153.34. The business’s fifty day simple moving average is $142.30 and its 200-day simple moving average is $131.89.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, November 4th. The business services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.63 by $0.35. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $971.21 million. Broadridge Financial Solutions had a return on equity of 48.98% and a net margin of 10.27%. Broadridge Financial Solutions’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 5.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 15th will be given a $0.575 dividend. The ex-dividend date of this dividend is Monday, December 14th. This represents a $2.30 dividend on an annualized basis and a yield of 1.59%. Broadridge Financial Solutions’s payout ratio is currently 45.73%.
A number of research analysts have commented on BR shares. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. DA Davidson cut Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $138.00 price target on the stock. in a research note on Wednesday, August 5th. They noted that the move was a valuation call. BTIG Research cut Broadridge Financial Solutions from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 11th. Finally, Rosenblatt Securities upped their price target on Broadridge Financial Solutions from $112.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $136.67.
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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