Skye Global Management LP purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,000 shares of the business services provider’s stock, valued at approximately $383,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Harvest Group Wealth Management LLC raised its holdings in Broadridge Financial Solutions by 183.3% during the second quarter. Harvest Group Wealth Management LLC now owns 221 shares of the business services provider’s stock worth $28,000 after purchasing an additional 143 shares during the last quarter. Roble Belko & Company Inc acquired a new position in Broadridge Financial Solutions during the first quarter worth $30,000. Icon Wealth Partners LLC acquired a new position in Broadridge Financial Solutions during the first quarter worth $39,000. Crewe Advisors LLC acquired a new position in Broadridge Financial Solutions during the first quarter worth $70,000. Finally, Winslow Evans & Crocker Inc. raised its holdings in Broadridge Financial Solutions by 512.3% during the second quarter. Winslow Evans & Crocker Inc. now owns 796 shares of the business services provider’s stock worth $104,000 after purchasing an additional 666 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. SunTrust Banks lifted their price objective on Broadridge Financial Solutions from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Finally, Raymond James cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Broadridge Financial Solutions has an average rating of “Buy” and an average price target of $129.20.
Broadridge Financial Solutions stock traded up $0.19 during mid-day trading on Thursday, hitting $124.30. 315,071 shares of the company were exchanged, compared to its average volume of 816,335. 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’s 50 day simple moving average is $128.67 and its two-hundred day simple moving average is $120.45. The company has a market capitalization of $14.76 billion, a P/E ratio of 26.67, a PEG ratio of 2.52 and a beta of 0.71. Broadridge Financial Solutions, Inc. has a 12-month low of $91.34 and a 12-month high of $138.24.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. Broadridge Financial Solutions’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 earnings per share. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 5.12 earnings per share for the current year.
The business also recently declared 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 an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, September 12th. This represents a $2.16 annualized dividend and a yield of 1.74%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 41.63%.
In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,258 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $128.69, for a total transaction of $290,582.02. Following the completion of the transaction, the vice president now owns 1,990 shares of the company’s stock, valued at $256,093.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stuart R. Levine sold 25,260 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $126.27, for a total value of $3,189,580.20. Following the transaction, the director now directly owns 47,886 shares of the company’s stock, valued at approximately $6,046,565.22. The disclosure for this sale can be found here. Insiders have sold 198,557 shares of company stock valued at $25,390,855 in the last three months. 2.30% of the stock is currently owned by company 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.
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