Fiera Capital Corp trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 531,346 shares of the business services provider’s stock after selling 51,047 shares during the period. Fiera Capital Corp owned approximately 0.45% of Broadridge Financial Solutions worth $40,149,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Global X Management Co. LLC increased its holdings in shares of Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 120 shares during the period. Commonwealth Bank of Australia boosted its stake in Broadridge Financial Solutions by 60.0% during the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock valued at $120,000 after buying an additional 600 shares in the last quarter. Van ECK Associates Corp boosted its stake in Broadridge Financial Solutions by 8.0% during the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock valued at $123,000 after buying an additional 135 shares in the last quarter. Airain ltd bought a new position in Broadridge Financial Solutions during the second quarter valued at about $204,000. Finally, Fiduciary Trust Co. bought a new position in Broadridge Financial Solutions during the second quarter valued at about $212,000. 84.29% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on BR. BidaskClub cut Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. DA Davidson started coverage on Broadridge Financial Solutions in a research note on Monday, August 7th. They set a “neutral” rating and a $74.00 target price for the company. Finally, Barclays PLC increased their price target on Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $76.00.
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In related news, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.58, for a total transaction of $602,531.44. Following the sale, the director now owns 39,747 shares in the company, valued at $3,043,825.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam D. Amsterdam sold 17,813 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total value of $1,370,888.48. Following the sale, the insider now owns 20,646 shares in the company, valued at approximately $1,588,916.16. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) traded down 0.814% during midday trading on Wednesday, reaching $79.825. The company’s stock had a trading volume of 35,269 shares. The stock has a 50-day moving average of $76.54 and a 200 day moving average of $72.92. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 29.565 and a beta of 0.97. Broadridge Financial Solutions, Inc. has a 12 month low of $59.86 and a 12 month high of $80.39.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. Broadridge Financial Solutions’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share. On average, analysts predict that Broadridge Financial Solutions, Inc. will post $3.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be given a dividend of $0.365 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. This represents a $1.46 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, September 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 48.35%.
Broadridge Financial Solutions Company Profile
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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