First Citizens Bank & Trust Co. Trims Stake in Broadridge Financial Solutions, Inc. (BR)

First Citizens Bank & Trust Co. lowered its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 22.0% in the 4th quarter, Holdings Channel reports. The firm owned 4,927 shares of the business services provider’s stock after selling 1,389 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Broadridge Financial Solutions were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its holdings in Broadridge Financial Solutions by 4.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 372,959 shares of the business services provider’s stock worth $28,181,000 after acquiring an additional 14,416 shares in the last quarter. American Century Companies Inc. increased its holdings in Broadridge Financial Solutions by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 23,050 shares of the business services provider’s stock worth $1,742,000 after acquiring an additional 531 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in Broadridge Financial Solutions by 60.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after acquiring an additional 600 shares in the last quarter. CIBC World Markets Inc. increased its holdings in Broadridge Financial Solutions by 16.6% in the 2nd quarter. CIBC World Markets Inc. now owns 4,315 shares of the business services provider’s stock worth $326,000 after acquiring an additional 614 shares in the last quarter. Finally, Eaton Vance Management increased its holdings in Broadridge Financial Solutions by 1.9% in the 2nd quarter. Eaton Vance Management now owns 19,086 shares of the business services provider’s stock worth $1,442,000 after acquiring an additional 363 shares in the last quarter. 83.48% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions, Inc. (BR) opened at $94.04 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $65.35 and a 52 week high of $94.31. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $10,891.83, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.12. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. The business had revenue of $925.00 million during the quarter, compared to the consensus estimate of $923.68 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 3.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th were paid a $0.365 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.46 annualized dividend and a yield of 1.55%. Broadridge Financial Solutions’s payout ratio is 50.87%.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays reissued a “hold” rating and issued a $95.00 target price on shares of Broadridge Financial Solutions in a report on Friday, December 8th. Raymond James Financial restated a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. ValuEngine downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, DA Davidson restated a “hold” rating and issued a $86.00 price target on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Six equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus price target of $90.50.

In other news, insider Robert Schifellite sold 49,181 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $89.47, for a total transaction of $4,400,224.07. Following the completion of the transaction, the insider now directly owns 149,181 shares in the company, valued at approximately $13,347,224.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Haviland sold 7,655 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total value of $677,544.05. Following the transaction, the director now owns 44,482 shares of the company’s stock, valued at $3,937,101.82. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

WARNING: “First Citizens Bank & Trust Co. Trims Stake in Broadridge Financial Solutions, Inc. (BR)” was originally posted by BBNS and is the property of of BBNS. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright law. The original version of this piece of content can be read at https://baseballnewssource.com/markets/first-citizens-bank-trust-co-trims-stake-in-broadridge-financial-solutions-inc-br/1827641.html.

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.

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR).

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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 our FREE daily email newsletter.

 


Latest News

Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Rumor: Braves Show Interest in Reamluto, Yelich
Rumor: Braves Show Interest in Reamluto, Yelich


Leave a Reply

 
© 2006-2018 BBNS.