Bronfman E.L. Rothschild L.P. decreased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 19.4% during the first quarter, Holdings Channel reports. The institutional investor owned 3,552 shares of the business services provider’s stock after selling 856 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Broadridge Financial Solutions were worth $241,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in BR. Janus Capital Management LLC raised its stake in shares of Broadridge Financial Solutions by 13.4% in the fourth quarter. Janus Capital Management LLC now owns 7,695,536 shares of the business services provider’s stock valued at $510,214,000 after buying an additional 907,815 shares in the last quarter. Fiduciary Management Inc. WI raised its stake in shares of Broadridge Financial Solutions by 2.3% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,459,906 shares of the business services provider’s stock valued at $96,792,000 after buying an additional 33,248 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Broadridge Financial Solutions by 1.8% in the fourth quarter. Brown Advisory Inc. now owns 1,318,003 shares of the business services provider’s stock valued at $87,383,000 after buying an additional 23,337 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Broadridge Financial Solutions by 4.5% in the fourth quarter. AQR Capital Management LLC now owns 1,212,432 shares of the business services provider’s stock valued at $80,384,000 after buying an additional 51,710 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $75,498,000. Institutional investors own 83.30% of the company’s stock.
Broadridge Financial Solutions, Inc. (NYSE:BR) traded up 1.516% during midday trading on Thursday, hitting $76.015. The stock had a trading volume of 252,685 shares. The stock has a market cap of $8.94 billion, a P/E ratio of 29.775 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a 12-month low of $59.86 and a 12-month high of $76.03. The company’s 50-day moving average price is $69.80 and its 200 day moving average price is $67.48.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, May 10th. The business services provider reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.10. Broadridge Financial Solutions had a return on equity of 33.76% and a net margin of 8.62%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $997.65 million. During the same period last year, the company earned $0.58 earnings per share. The business’s revenue was up 46.4% compared to the same quarter last year. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post $3.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.32 annualized dividend and a yield of 1.76%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 53.88%.
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Separately, Zacks Investment Research upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $72.60.
In other news, SVP Christopher John Perry sold 66,516 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $74.40, for a total value of $4,948,790.40. Following the transaction, the senior vice president now directly owns 63,665 shares in the company, valued at $4,736,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy C. Gokey sold 83,390 shares of Broadridge Financial Solutions stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $69.88, for a total value of $5,827,293.20. Following the completion of the transaction, the insider now owns 161,539 shares in the company, valued at $11,288,345.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 295,371 shares of company stock worth $21,434,138. Corporate insiders own 3.50% of the company’s stock.
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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