Securian Asset Management Inc grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.9% during the second quarter, Holdings Channel reports. The institutional investor owned 12,157 shares of the business services provider’s stock after buying an additional 226 shares during the period. Securian Asset Management Inc’s holdings in Broadridge Financial Solutions were worth $1,552,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Harvest Group Wealth Management LLC increased 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 valued at $28,000 after purchasing an additional 143 shares during the last quarter. Roble Belko & Company Inc purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth $30,000. Icon Wealth Partners LLC purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth $39,000. Crewe Advisors LLC acquired a new position in Broadridge Financial Solutions during the 1st quarter valued at about $70,000. Finally, Winslow Evans & Crocker Inc. increased its position 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 buying an additional 666 shares in the last quarter. 86.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the company. SunTrust Banks increased their price objective on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Friday, May 10th. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. DA Davidson downgraded Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 target price on the stock. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, Raymond James downgraded Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $129.20.
Shares of NYSE BR opened at $127.46 on Friday. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 2.56 and a beta of 0.72. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.30 and a quick ratio of 1.30. The business has a 50-day moving average of $130.15 and a two-hundred day moving average of $117.71. Broadridge Financial Solutions, Inc. has a 1 year low of $91.34 and a 1 year high of $138.24.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, August 1st. The business services provider reported $1.72 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.72. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 5.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be given a dividend of $0.54 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.16 annualized dividend and a yield of 1.69%. Broadridge Financial Solutions’s payout ratio is presently 41.63%.
In related news, insider Robert F. Kalenka sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $132.58, for a total value of $1,060,640.00. Following the sale, the insider now owns 28,986 shares of the company’s stock, valued at approximately $3,842,963.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Robert Schifellite sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $125.01, for a total value of $1,875,150.00. Following the completion of the sale, the senior vice president now directly owns 78,418 shares in the company, valued at approximately $9,803,034.18. The disclosure for this sale can be found here. Insiders have sold a total of 215,165 shares of company stock worth $27,433,672 in the last quarter. 2.30% of the stock is currently owned by insiders.
Broadridge Financial Solutions Company 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.
Featured Article: How to Calculate Compound Annual Growth Rate (CAGR)
Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR).
Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.