Avanza Fonder AB acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,408 shares of the business services provider's stock, valued at approximately $1,675,000.
Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider's stock valued at $1,118,644,000 after acquiring an additional 51,439 shares in the last quarter. Geode Capital Management LLC boosted its position in Broadridge Financial Solutions by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider's stock valued at $643,018,000 after purchasing an additional 15,208 shares during the last quarter. Stifel Financial Corp grew its stake in Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock valued at $342,856,000 after purchasing an additional 5,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Broadridge Financial Solutions by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider's stock worth $194,585,000 after purchasing an additional 20,775 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Broadridge Financial Solutions by 3.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider's stock worth $157,741,000 after purchasing an additional 28,614 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.
Broadridge Financial Solutions Stock Performance
Shares of Broadridge Financial Solutions stock traded down $0.69 during trading on Friday, reaching $230.35. The company's stock had a trading volume of 582,536 shares, compared to its average volume of 412,680. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $237.96. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market cap of $26.93 billion, a price-to-earnings ratio of 39.85 and a beta of 1.08. The business's fifty day moving average price is $229.43 and its 200-day moving average price is $218.03.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. Broadridge Financial Solutions's quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.
Broadridge Financial Solutions Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions's payout ratio is presently 60.90%.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a "neutral" rating and a $250.00 price target on the stock. DA Davidson lifted their price objective on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Royal Bank of Canada reissued an "outperform" rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus target price of $226.71.
Check Out Our Latest Stock Report on BR
Insider Buying and Selling
In related news, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares of the company's stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,532 shares of company stock valued at $12,264,846 over the last three months. 1.30% of the stock is owned by corporate insiders.
About Broadridge Financial Solutions
(
Free Report)
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.
Further Reading
Before you consider Broadridge Financial Solutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadridge Financial Solutions wasn't on the list.
While Broadridge Financial Solutions currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
