Delta Lloyd Asset Management N.V. bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,585 shares of the business services provider’s stock, valued at approximately $573,000.
Other large investors also recently modified their holdings of the company. Global X Management Co. LLC increased its position in shares of Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after acquiring an additional 120 shares during the period. Van ECK Associates Corp increased its holdings in Broadridge Financial Solutions by 8.0% during the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock valued at $123,000 after buying an additional 135 shares during the period. Airain ltd purchased a new position in Broadridge Financial Solutions during the second quarter valued at approximately $204,000. Penserra Capital Management LLC increased its holdings in Broadridge Financial Solutions by 13.0% during the second quarter. Penserra Capital Management LLC now owns 3,016 shares of the business services provider’s stock valued at $227,000 after buying an additional 348 shares during the period. Finally, Advisor Partners LLC purchased a new position in Broadridge Financial Solutions during the second quarter valued at approximately $240,000. 83.77% of the stock is currently owned by institutional investors and hedge funds.
Broadridge Financial Solutions, Inc. (BR) opened at 80.93 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $59.86 and a one year high of $80.93. The company’s 50 day moving average is $77.13 and its 200 day moving average is $73.33. The stock has a market cap of $9.43 billion, a PE ratio of 29.97 and a beta of 0.97.
Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.71. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.45 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post $3.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be issued a $0.365 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.80%. Broadridge Financial Solutions’s dividend payout ratio is currently 53.48%.
Several brokerages have weighed in on BR. BidaskClub downgraded shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. DA Davidson began coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price for the company. Finally, Barclays PLC raised their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating, Broadridge Financial Solutions has an average rating of “Hold” and a consensus target price of $74.00.
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In related news, insider Adam D. Amsterdam sold 17,813 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total value of $1,370,888.48. Following the transaction, the insider now owns 20,646 shares in the company, valued at $1,588,916.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stuart R. Levine sold 7,868 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.58, for a total value of $602,531.44. Following the completion of the transaction, the director now owns 39,747 shares in the company, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
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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