Natixis boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 191.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,301 shares of the business services provider’s stock after acquiring an additional 21,226 shares during the quarter. Natixis’ holdings in Broadridge Financial Solutions were worth $3,543,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of BR. BlackRock Inc. grew its stake in shares of Broadridge Financial Solutions by 0.4% in the first quarter. BlackRock Inc. now owns 13,933,172 shares of the business services provider’s stock valued at $1,528,329,000 after buying an additional 49,076 shares in the last quarter. Atlanta Capital Management Co. L L C grew its stake in Broadridge Financial Solutions by 2.4% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 2,594,845 shares of the business services provider’s stock worth $235,041,000 after purchasing an additional 61,117 shares in the last quarter. Northern Trust Corp grew its stake in Broadridge Financial Solutions by 0.5% during the 1st quarter. Northern Trust Corp now owns 1,719,607 shares of the business services provider’s stock worth $188,623,000 after purchasing an additional 8,548 shares in the last quarter. Deutsche Bank AG grew its stake in Broadridge Financial Solutions by 38.1% during the 4th quarter. Deutsche Bank AG now owns 1,379,752 shares of the business services provider’s stock worth $124,975,000 after purchasing an additional 380,595 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Broadridge Financial Solutions by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 1,181,398 shares of the business services provider’s stock worth $106,961,000 after purchasing an additional 49,353 shares in the last quarter. 84.59% of the stock is owned by institutional investors.
In other news, insider Adam D. Amsterdam sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $117.97, for a total value of $1,179,700.00. Following the completion of the sale, the insider now directly owns 10,882 shares of the company’s stock, valued at approximately $1,283,749.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Schifellite sold 43,686 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $118.70, for a total value of $5,185,528.20. Following the completion of the sale, the senior vice president now directly owns 125,533 shares of the company’s stock, valued at $14,900,767.10. The disclosure for this sale can be found here. Insiders have sold a total of 203,270 shares of company stock valued at $23,520,457 over the last ninety days. 2.60% of the stock is owned by company insiders.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, May 8th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.21. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Broadridge Financial Solutions had a return on equity of 45.33% and a net margin of 9.37%. Broadridge Financial Solutions’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. equities research analysts expect that Broadridge Financial Solutions, Inc. will post 4.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Friday, June 15th will be issued a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 46.65%.
Several research analysts recently commented on BR shares. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. DA Davidson boosted their target price on Broadridge Financial Solutions from $90.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 28th. Finally, Zacks Investment Research cut Broadridge Financial Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $100.25.
About Broadridge Financial Solutions
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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