Pendal Group Ltd acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,455 shares of the business services provider’s stock, valued at approximately $1,511,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gulf International Bank UK Ltd grew its holdings in Broadridge Financial Solutions by 2.6% in the 3rd quarter. Gulf International Bank UK Ltd now owns 38,810 shares of the business services provider’s stock valued at $5,120,000 after buying an additional 1,000 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $2,349,000. WINTON GROUP Ltd purchased a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $11,927,000. Wells Fargo & Company MN grew its holdings in Broadridge Financial Solutions by 32.0% in the 3rd quarter. Wells Fargo & Company MN now owns 1,950,097 shares of the business services provider’s stock valued at $257,315,000 after buying an additional 472,524 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in Broadridge Financial Solutions by 71.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 12,868 shares of the business services provider’s stock valued at $1,698,000 after buying an additional 5,351 shares in the last quarter. 84.55% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Richard J. Daly sold 210,188 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the completion of the transaction, the chief executive officer now directly owns 387,336 shares in the company, valued at approximately $51,182,579.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard J. Daly sold 67,974 shares of the firm’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $126.61, for a total value of $8,606,188.14. Following the transaction, the chief executive officer now owns 233,673 shares of the company’s stock, valued at $29,585,338.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 325,354 shares of company stock valued at $42,709,350. Company insiders own 2.30% of the company’s stock.
Several analysts have issued reports on BR shares. SunTrust Banks started coverage on Broadridge Financial Solutions in a report on Wednesday, August 29th. They issued a “buy” rating and a $150.00 target price for the company. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Friday, August 10th. Wolfe Research started coverage on Broadridge Financial Solutions in a report on Tuesday, July 17th. They set a “market perform” rating for the company. Finally, Sandler O’Neill reiterated a “hold” rating and set a $130.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $123.40.
NYSE BR opened at $107.21 on Friday. The firm has a market cap of $12.69 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.69 and a quick ratio of 1.28. Broadridge Financial Solutions, Inc. has a twelve month low of $86.80 and a twelve month high of $138.24.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.11. The business had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $970.19 million. Broadridge Financial Solutions had a return on equity of 46.83% and a net margin of 10.39%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 4.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, December 14th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Thursday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 46.30%.
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About Broadridge Financial Solutions
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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