Raymond James & Associates trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 605,567 shares of the business services provider’s stock after selling 23,109 shares during the quarter. Raymond James & Associates owned approximately 0.52% of Broadridge Financial Solutions worth $54,853,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of BR. Assetmark Inc. boosted its position in Broadridge Financial Solutions by 397.5% during the 4th quarter. Assetmark Inc. now owns 1,582 shares of the business services provider’s stock valued at $143,000 after purchasing an additional 1,264 shares during the period. Wetherby Asset Management Inc. acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $200,000. Polaris Greystone Financial Group LLC acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $202,000. Moody Aldrich Partners LLC acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $204,000. Finally, Aureus Asset Management LLC acquired a new position in Broadridge Financial Solutions during the third quarter valued at $209,000. Institutional investors and hedge funds own 84.66% of the company’s stock.
In related news, Director Stuart R. Levine sold 8,304 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $106.05, for a total transaction of $880,639.20. Following the completion of the sale, the director now owns 24,554 shares in the company, valued at approximately $2,603,951.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam D. Amsterdam sold 19,600 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $99.36, for a total value of $1,947,456.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,743 shares of company stock valued at $13,191,608. 2.60% of the stock is currently owned by corporate insiders.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.21. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $945.80 million. Broadridge Financial Solutions had a return on equity of 44.02% and a net margin of 8.74%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. research analysts expect that Broadridge Financial Solutions, Inc. will post 4.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.365 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.46 annualized dividend and a dividend yield of 1.35%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.50%.
Several research analysts recently weighed in on the company. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Sandler O’Neill reissued a “hold” rating and set a $101.00 price target on shares of Broadridge Financial Solutions in a research report on Thursday, February 15th. Barclays boosted their target price on Broadridge Financial Solutions from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Zacks Investment Research downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Raymond James Financial restated a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $98.75.
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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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