Beaumont Financial Partners LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,346 shares of the business services provider’s stock, valued at approximately $442,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in Broadridge Financial Solutions in the third quarter valued at approximately $106,000. Squar Milner Financial Services LLC acquired a new position in Broadridge Financial Solutions in the second quarter valued at approximately $109,000. Bartlett & Co. LLC lifted its stake in Broadridge Financial Solutions by 375.0% during the second quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock worth $109,000 after purchasing an additional 750 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Broadridge Financial Solutions during the third quarter worth $129,000. Finally, Fort L.P. acquired a new position in Broadridge Financial Solutions during the second quarter worth $120,000. Hedge funds and other institutional investors own 84.55% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. SunTrust Banks assumed coverage on Broadridge Financial Solutions in a research note on Wednesday, August 29th. They set a “buy” rating and a $150.00 price target on the stock. Sandler O’Neill restated a “hold” rating and set a $130.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Finally, Wolfe Research assumed coverage on Broadridge Financial Solutions in a research note on Tuesday, July 17th. They set a “market perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Broadridge Financial Solutions presently has an average rating of “Hold” and an average price target of $123.40.
NYSE:BR opened at $116.58 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.28 and a current ratio of 1.28. Broadridge Financial Solutions, Inc. has a 52 week low of $86.80 and a 52 week high of $138.24. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.49 and a beta of 0.95.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.01). Broadridge Financial Solutions had a return on equity of 46.16% and a net margin of 9.88%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.67 EPS for the current fiscal year.
In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 67,974 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the transaction, the chief executive officer now directly owns 233,673 shares in the company, valued at $29,585,338.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Daly sold 210,188 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $132.14, for a total value of $27,774,242.32. Following the transaction, the chief executive officer now owns 387,336 shares in the company, valued at $51,182,579.04. The disclosure for this sale can be found here. Insiders have sold 370,080 shares of company stock worth $48,514,337 over the last 90 days. 2.30% of the stock is owned by insiders.
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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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