Brinker Capital Inc. cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 14.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,574 shares of the business services provider’s stock after selling 10,287 shares during the quarter. Brinker Capital Inc. owned 0.05% of Broadridge Financial Solutions worth $5,837,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Nicholas Company Inc. bought a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $10,538,000. Avalon Advisors LLC grew its holdings in Broadridge Financial Solutions by 4.7% during the 4th quarter. Avalon Advisors LLC now owns 33,284 shares of the business services provider’s stock worth $3,204,000 after acquiring an additional 1,493 shares during the last quarter. MUFG Securities EMEA plc grew its holdings in Broadridge Financial Solutions by 398.0% during the 4th quarter. MUFG Securities EMEA plc now owns 195,000 shares of the business services provider’s stock worth $18,769,000 after acquiring an additional 155,846 shares during the last quarter. Fort L.P. grew its holdings in Broadridge Financial Solutions by 64.5% during the 4th quarter. Fort L.P. now owns 14,331 shares of the business services provider’s stock worth $1,379,000 after acquiring an additional 5,621 shares during the last quarter. Finally, ARP Americas LP grew its holdings in Broadridge Financial Solutions by 32.5% during the 4th quarter. ARP Americas LP now owns 10,600 shares of the business services provider’s stock worth $1,020,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.
NYSE:BR opened at $103.55 on Friday. 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 52 week low of $91.34 and a 52 week high of $138.24. The firm has a market capitalization of $11.62 billion, a PE ratio of 24.71, a PEG ratio of 2.18 and a beta of 0.84.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, February 7th. The business services provider reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.15). Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. The firm had revenue of $953.40 million during the quarter, compared to the consensus estimate of $967.21 million. During the same period in the prior year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 4.61 earnings per share for the current year.
The company 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 $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.
In other news, Director Alan J. Weber sold 1,980 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total value of $198,712.80. Following the sale, the director now directly owns 51,588 shares of the company’s stock, valued at approximately $5,177,371.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.30% of the company’s stock.
A number of research firms have weighed in on BR. Raymond James raised shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a report on Wednesday. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Monday, February 11th. DA Davidson raised shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price on the stock in a report on Friday, February 8th. SunTrust Banks reissued a “buy” rating and set a $110.00 target price on shares of Broadridge Financial Solutions in a report on Sunday, January 6th. Finally, Rosenblatt Securities began coverage on shares of Broadridge Financial Solutions in a report on Wednesday, December 5th. They set a “neutral” rating and a $110.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $118.67.
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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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