BB&T Securities LLC reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,843 shares of the business services provider’s stock after selling 3,260 shares during the quarter. BB&T Securities LLC’s holdings in Broadridge Financial Solutions were worth $2,583,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in Broadridge Financial Solutions by 1.3% in the 3rd quarter. BlackRock Inc. now owns 10,231,132 shares of the business services provider’s stock worth $1,349,998,000 after purchasing an additional 134,591 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Broadridge Financial Solutions by 1.3% during the third quarter. Janus Henderson Group PLC now owns 6,193,580 shares of the business services provider’s stock valued at $817,243,000 after buying an additional 77,517 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Broadridge Financial Solutions by 71.4% in the third quarter. AQR Capital Management LLC now owns 1,995,511 shares of the business services provider’s stock valued at $263,308,000 after purchasing an additional 831,086 shares during the period. Wells Fargo & Company MN grew its stake 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 worth $257,315,000 after buying an additional 472,524 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Broadridge Financial Solutions by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,240,130 shares of the business services provider’s stock worth $163,634,000 after purchasing an additional 10,581 shares in the last quarter. Hedge funds and other institutional investors own 87.11% of the company’s stock.
Shares of BR stock opened at $99.74 on Thursday. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 2.10 and a beta of 0.84. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.62 and a current ratio of 1.62. Broadridge Financial Solutions, Inc. has a fifty-two week low of $91.34 and a fifty-two week high of $138.24.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, February 7th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.15). The company had revenue of $953.40 million during the quarter, compared to analyst estimates of $967.21 million. Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. Broadridge Financial Solutions’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.95%. Broadridge Financial Solutions’s dividend payout ratio is 46.30%.
A number of brokerages have commented on BR. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Rosenblatt Securities began coverage on Broadridge Financial Solutions in a research report on Wednesday, December 5th. They issued a “neutral” rating and a $110.00 price objective on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $110.00 target price on shares of Broadridge Financial Solutions in a report on Sunday, January 6th. Finally, DA Davidson raised Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price for the company in a research report on Friday, February 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $118.80.
In other news, Director Stuart R. Levine sold 8,902 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $98.75, for a total transaction of $879,072.50. Following the transaction, the director now owns 36,530 shares in the company, valued at $3,607,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by company 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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