Cambridge Investment Research Advisors Inc. lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,126 shares of the business services provider’s stock after selling 39 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $765,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in BR. Global X Management Co. LLC increased its stake in Broadridge Financial Solutions by 8.5% in the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 120 shares during the period. Van ECK Associates Corp increased its stake in Broadridge Financial Solutions by 8.0% in the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 135 shares during the period. Airain ltd acquired a new position in Broadridge Financial Solutions in the second quarter valued at $204,000. Penserra Capital Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 13.0% in the second quarter. Penserra Capital Management LLC now owns 3,016 shares of the business services provider’s stock valued at $227,000 after acquiring an additional 348 shares in the last quarter. Finally, Ropes Wealth Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 16.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,384 shares of the business services provider’s stock valued at $230,000 after acquiring an additional 478 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.
Several brokerages have recently weighed in on BR. DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price on the stock. BidaskClub downgraded shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Finally, Barclays PLC lifted their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $74.00.
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In other news, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.58, for a total transaction of $602,531.44. Following the sale, the director now owns 39,747 shares in the company, valued at approximately $3,043,825.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Adam D. Amsterdam sold 17,813 shares of the company’s 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 sale, the insider now owns 20,646 shares in the company, valued at approximately $1,588,916.16. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.
Broadridge Financial Solutions, Inc. (NYSE BR) traded down 0.3232% during midday trading on Friday, reaching $79.0437. 105,384 shares of the company’s stock traded hands. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $80.48. The company’s 50-day moving average price is $76.84 and its 200 day moving average price is $73.09. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 29.2754 and a beta of 0.97.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $1.45 EPS. The business’s revenue was up 38.1% on a year-over-year basis. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post $3.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be given a dividend of $0.365 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.84%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio is 48.35%.
Broadridge Financial Solutions Profile
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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