Global Financial Private Capital LLC boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,433 shares of the business services provider’s stock after acquiring an additional 5,776 shares during the period. Global Financial Private Capital LLC’s holdings in Broadridge Financial Solutions were worth $3,302,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of BR. Toronto Dominion Bank increased its stake in Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 149 shares during the last quarter. Advisory Services Network LLC increased its stake in Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 706 shares during the last quarter. Moody Aldrich Partners LLC bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at $204,000. Aureus Asset Management LLC bought a new stake in Broadridge Financial Solutions during the third quarter valued at $209,000. Finally, Court Place Advisors LLC bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at $210,000. 83.50% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Wednesday, January 31st. Sandler O’Neill set a $95.00 target price on shares of Broadridge Financial Solutions and gave the company a “hold” rating in a research note on Thursday, February 8th. DA Davidson reiterated a “hold” rating and set a $86.00 target price on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Raymond James Financial restated a “hold” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. Finally, ValuEngine lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $97.25.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.58 by $0.21. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $945.80 million. Broadridge Financial Solutions had a net margin of 8.74% and a return on equity of 44.02%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. research analysts expect that Broadridge Financial Solutions, Inc. will post 4.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th will be given a dividend of $0.365 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.46 annualized dividend and a dividend yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio is currently 46.50%.
In related news, Director Richard J. Haviland sold 7,655 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total value of $677,544.05. Following the completion of the transaction, the director now owns 44,482 shares in the company, valued at approximately $3,937,101.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 56,539 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $92.60, for a total transaction of $5,235,511.40. Following the completion of the transaction, the insider now owns 98,427 shares of the company’s stock, valued at approximately $9,114,340.20. The disclosure for this sale can be found here. Insiders have sold 113,375 shares of company stock valued at $10,313,280 in the last 90 days. Insiders own 2.60% of the company’s stock.
About Broadridge Financial Solutions
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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