Kelly Lawrence W & Associates Inc. CA lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 169,683 shares of the business services provider’s stock after selling 1,650 shares during the period. Broadridge Financial Solutions accounts for 3.7% of Kelly Lawrence W & Associates Inc. CA’s holdings, making the stock its 10th largest position. Kelly Lawrence W & Associates Inc. CA’s holdings in Broadridge Financial Solutions were worth $21,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Harvest Group Wealth Management LLC lifted its position in shares of Broadridge Financial Solutions by 183.3% during the 2nd quarter. Harvest Group Wealth Management LLC now owns 221 shares of the business services provider’s stock worth $28,000 after buying an additional 143 shares during the period. Roble Belko & Company Inc acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at $30,000. Icon Wealth Partners LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at $39,000. Crewe Advisors LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at $70,000. Finally, Winslow Evans & Crocker Inc. increased its holdings in Broadridge Financial Solutions by 512.3% during 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 in the last quarter. Institutional investors and hedge funds own 88.33% of the company’s stock.
A number of equities research analysts recently weighed in on the company. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. SunTrust Banks raised their price target on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Raymond James cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $129.20.
In other news, insider Richard J. Daly sold 7,500 shares of Broadridge Financial Solutions stock in a transaction on Monday, June 24th. The stock was sold at an average price of $128.93, for a total value of $966,975.00. Following the completion of the sale, the insider now directly owns 212,611 shares of the company’s stock, valued at approximately $27,411,936.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas P. Carey sold 2,258 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $128.69, for a total value of $290,582.02. Following the completion of the sale, the vice president now directly owns 1,990 shares of the company’s stock, valued at $256,093.10. The disclosure for this sale can be found here. Insiders sold a total of 198,557 shares of company stock valued at $25,390,855 over the last three months. Insiders own 2.30% of the company’s stock.
BR stock traded down $1.02 during midday trading on Wednesday, reaching $126.16. 4,645 shares of the company’s stock traded hands, compared to its average volume of 549,385. The company has a 50-day simple moving average of $127.69 and a two-hundred day simple moving average of $121.04. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 2.42 and a beta of 0.71. Broadridge Financial Solutions, Inc. has a 1-year low of $91.34 and a 1-year high of $136.99. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.30.
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 company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $1.86 EPS. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 5.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be paid a $0.54 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 46.35%.
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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