Seeyond reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,133 shares of the business services provider’s stock after selling 1,124 shares during the quarter. Seeyond’s holdings in Broadridge Financial Solutions were worth $655,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of BR. Harvest Group Wealth Management LLC lifted its position in Broadridge Financial Solutions by 183.3% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 221 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 143 shares during the last quarter. Roble Belko & Company Inc bought a new stake in Broadridge Financial Solutions in the 1st quarter valued at about $30,000. Icon Wealth Partners LLC bought a new stake in Broadridge Financial Solutions in the 1st quarter valued at about $39,000. Crewe Advisors LLC bought a new stake in Broadridge Financial Solutions in the 1st quarter valued at about $70,000. Finally, Winslow Evans & Crocker Inc. lifted its position in Broadridge Financial Solutions by 512.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 796 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 666 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.
Several brokerages recently weighed in on BR. ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. SunTrust Banks lifted their price objective on shares of Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Raymond James downgraded shares of Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Broadridge Financial Solutions has a consensus rating of “Buy” and a consensus price target of $129.20.
Broadridge Financial Solutions stock traded down $0.28 during trading hours on Friday, hitting $124.02. 344,020 shares of the company traded hands, compared to its average volume of 593,371. The firm has a market cap of $14.25 billion, a P/E ratio of 26.61, a P/E/G ratio of 2.43 and a beta of 0.71. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.30. The firm’s 50-day simple moving average is $128.47 and its two-hundred day simple moving average is $120.56. Broadridge Financial Solutions, Inc. has a 1-year low of $91.34 and a 1-year high of $138.24.
Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, August 1st. The business services provider reported $1.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.72. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Broadridge Financial Solutions had a net margin of 11.05% and a return on equity of 46.61%. Broadridge Financial Solutions’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 5.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be paid a dividend of $0.54 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, September 12th. This represents a $2.16 annualized dividend and a yield of 1.74%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 41.63%.
In other Broadridge Financial Solutions news, Director Stuart R. Levine sold 25,260 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $126.27, for a total transaction of $3,189,580.20. Following the transaction, the director now owns 47,886 shares of the company’s stock, valued at approximately $6,046,565.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas Richard Deschutter sold 17,500 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $130.37, for a total transaction of $2,281,475.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,557 shares of company stock worth $25,390,855. 2.30% of the stock is owned by corporate insiders.
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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