Institutional & Family Asset Management LLC lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,475 shares of the business services provider’s stock after acquiring an additional 1,759 shares during the quarter. Institutional & Family Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $3,471,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of BR. Whittier Trust Co. boosted its stake in Broadridge Financial Solutions by 117.3% in the fourth quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 156 shares in the last quarter. Roble Belko & Company Inc acquired a new stake in shares of Broadridge Financial Solutions during the first quarter worth $30,000. Pinnacle Bank acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $34,000. 1832 Asset Management L.P. acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $39,000. Finally, Capital Financial Planning LLC acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $39,000. 83.96% of the stock is currently owned by institutional investors and hedge funds.
In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 1,215 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $108.82, for a total value of $132,216.30. Following the sale, the vice president now directly owns 4,202 shares of the company’s stock, valued at approximately $457,261.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leslie A. Brun sold 7,500 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $121.71, for a total transaction of $912,825.00. Following the completion of the sale, the director now directly owns 30,101 shares in the company, valued at $3,663,592.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,364 shares of company stock worth $23,791,928. 2.30% of the stock is owned by insiders.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, May 7th. The business services provider reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.10. Broadridge Financial Solutions had a net margin of 11.31% and a return on equity of 48.71%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $1.00 earnings per share. Broadridge Financial Solutions’s quarterly revenue was up 14.3% on a year-over-year basis. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, June 13th. Broadridge Financial Solutions’s payout ratio is currently 46.30%.
Several research analysts recently issued reports on BR shares. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a report on Wednesday, April 10th. SunTrust Banks raised their target price on shares of Broadridge Financial Solutions to $130.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. DA Davidson raised their target price on shares of Broadridge Financial Solutions to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Raymond James raised shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a report on Wednesday, March 13th. Finally, ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $126.00.
Broadridge Financial Solutions Profile
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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