Schwab Charles Investment Management Inc. boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 384,717 shares of the business services provider’s stock after purchasing an additional 11,758 shares during the period. Schwab Charles Investment Management Inc. owned about 0.33% of Broadridge Financial Solutions worth $31,093,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of BR. Acrospire Investment Management LLC purchased a new position in Broadridge Financial Solutions in the second quarter valued at about $108,000. Toronto Dominion Bank boosted its stake in Broadridge Financial Solutions by 11.4% in the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 149 shares during the last quarter. Global X Management Co. LLC boosted 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 acquiring an additional 120 shares during the last quarter. Advisory Services Network LLC boosted its stake in Broadridge Financial Solutions by 82.8% in the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 706 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in Broadridge Financial Solutions by 60.0% in the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock valued at $120,000 after acquiring an additional 600 shares during the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on BR shares. ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Barclays upped their price target on shares of Broadridge Financial Solutions from $74.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. Raymond James Financial restated a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. Finally, DA Davidson restated a “hold” rating and set a $86.00 price target on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Five analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $90.50.
In related news, insider Richard J. Daly sold 94,039 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Schifellite sold 49,181 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $89.47, for a total transaction of $4,400,224.07. Following the transaction, the insider now directly owns 149,181 shares in the company, valued at approximately $13,347,224.07. The disclosure for this sale can be found here. Insiders sold a total of 150,875 shares of company stock worth $12,784,264 over the last quarter. Corporate insiders own 2.60% of the company’s stock.
Broadridge Financial Solutions, Inc. (NYSE BR) traded up $0.22 during midday trading on Tuesday, reaching $90.80. 571,128 shares of the company’s stock traded hands, compared to its average volume of 431,650. Broadridge Financial Solutions, Inc. has a fifty-two week low of $65.22 and a fifty-two week high of $92.44. 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 stock has a market cap of $10,580.00, a PE ratio of 31.75, a PEG ratio of 2.44 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.12. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The business had revenue of $925.00 million for the quarter, compared to analysts’ expectations of $923.68 million. During the same period in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. analysts forecast that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be paid a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 51.05%.
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Broadridge Financial Solutions Company 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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