1 week Ago By ABMN Staff
Great Lakes Advisors LLC grew its stake in Broadridge Financial Solutions, Inc. ( NYSE:BR – Free Report ) by 3.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).
The institutional investor owned 30,214 shares of the business services provider’s stock after purchasing an additional 1,121 shares during the period. Great Lakes Advisors LLC’s holdings in Broadridge Financial Solutions were worth $5,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Several other hedge funds and other institutional investors have also recently made changes to their positions in BR.
Confluence Investment Management LLC acquired a new position in Broadridge Financial Solutions in the 1st quarter valued at about $144,033,000. APG Asset Management US Inc. purchased a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $70,498,000.
Norges Bank purchased a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd.
increased its stake in Broadridge Financial Solutions by 28.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co.
Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after acquiring an additional 323,051 shares during the last quarter. Finally, Veritas Investment Partners UK Ltd.
raised its position in Broadridge Financial Solutions by 16.9% in the fourth quarter. Veritas Investment Partners UK Ltd.
now owns 1,020,533 shares of the business services provider’s stock valued at $210,031,000 after purchasing an additional 147,293 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.
Analyst Upgrades and Downgrades A number of analysts recently issued reports on BR shares. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th.
Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th.
JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.
00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, DA Davidson reiterated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th.
Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $213.
33. Insider Buying and Selling at Broadridge Financial Solutions In other news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction dated Friday, August 16th.
The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00.
Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The sale was disclosed in a filing with the SEC, which is accessible through this link .
In other news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.
11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.
25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website . Also, Director Leslie A.
Brun sold 5,739 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $210.05, for a total transaction of $1,205,476.
95. Following the transaction, the director now owns 77,318 shares of the company’s stock, valued at approximately $16,240,645.90.
The disclosure for this sale can be found here . Insiders have sold 94,914 shares of company stock valued at $19,815,248 in the last quarter. Corporate insiders own 1.
60% of the company’s stock. Broadridge Financial Solutions Trading Down 1.5 % Shares of BR stock opened at $207.
59 on Monday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.
73 and a fifty-two week high of $223.81. The company has a 50 day moving average price of $208.
46 and a 200 day moving average price of $202.75. The stock has a market capitalization of $24.
53 billion, a P/E ratio of 35.42 and a beta of 1.05.
The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.
08. Broadridge Financial Solutions ( NYSE:BR – Get Free Report ) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.
50 EPS for the quarter, beating the consensus estimate of $3.49 by $0.01.
Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%.
The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion.
During the same quarter last year, the company posted $3.21 EPS. The firm’s revenue was up 5.
7% compared to the same quarter last year. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.
51 EPS for the current fiscal year. Broadridge Financial Solutions Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.
88 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80.
The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 annualized dividend and a yield of 1.
70%. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.
About Broadridge Financial Solutions ( Free Report ) Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions. Further Reading Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.
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