Rhumbline Advisers grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 314,195 shares of the business services provider’s stock after purchasing an additional 29,934 shares during the quarter. Rhumbline Advisers owned about 0.27% of Broadridge Financial Solutions worth $25,393,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Acrospire Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $108,000. Toronto Dominion Bank grew its holdings in Broadridge Financial Solutions by 11.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after buying an additional 149 shares in the last quarter. Global X Management Co. LLC grew its holdings in Broadridge Financial Solutions by 8.5% in the 2nd quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after buying an additional 120 shares in the last quarter. Advisory Services Network LLC grew its holdings in Broadridge Financial Solutions by 82.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after buying an additional 706 shares in the last quarter. Finally, Commonwealth Bank of Australia grew 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 valued at $120,000 after buying an additional 600 shares in the last quarter. 83.54% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Richard J. Daly sold 94,039 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total value of $7,706,496.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.
Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) traded up $0.04 during midday trading on Monday, hitting $90.17. The stock had a trading volume of 503,500 shares, compared to its average volume of 465,329. Broadridge Financial Solutions, Inc. has a one year low of $63.55 and a one year high of $91.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $10,504.88, a PE ratio of 27.07, a PEG ratio of 2.42 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 EPS 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 analysts’ expectations of $923.68 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. analysts predict that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 50.87%.
Several analysts recently weighed in on the company. BidaskClub downgraded Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. DA Davidson reiterated a “hold” rating and issued a $86.00 price target on shares of Broadridge Financial Solutions in a report on Thursday, November 9th. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, Barclays lifted their price target on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th.
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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.
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