Garrison Financial Corp lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,991 shares of the business services provider’s stock after selling 1,555 shares during the period. Broadridge Financial Solutions comprises 2.3% of Garrison Financial Corp’s investment portfolio, making the stock its 12th largest position. Garrison Financial Corp’s holdings in Broadridge Financial Solutions were worth $4,004,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in BR. Global X Management Co. LLC increased its position in Broadridge Financial Solutions by 8.5% in 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 buying an additional 120 shares during the last quarter. Van ECK Associates Corp increased its position in Broadridge Financial Solutions by 8.0% in 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 during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Broadridge Financial Solutions by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,176 shares of the business services provider’s stock valued at $202,000 after buying an additional 174 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in Broadridge Financial Solutions by 16.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,384 shares of the business services provider’s stock valued at $230,000 after buying an additional 478 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Broadridge Financial Solutions during the first quarter valued at approximately $233,000. 85.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Broadridge Financial Solutions, Inc. (NYSE BR) opened at 74.27 on Friday. The company has a 50 day moving average price of $75.36 and a 200 day moving average price of $71.49. The company has a market capitalization of $8.65 billion, a PE ratio of 27.51 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $78.00.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $1.45 EPS. Broadridge Financial Solutions’s quarterly revenue was up 38.1% compared to the same quarter last year. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post $3.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be paid a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.97%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, September 14th. Broadridge Financial Solutions’s payout ratio is currently 48.35%.
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Several equities analysts have recently commented on the company. BidaskClub downgraded Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Saturday. DA Davidson assumed coverage on Broadridge Financial Solutions in a research report on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price on the stock. Finally, Barclays PLC upped their target price on Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $76.00.
In related news, VP Laura Matlin sold 630 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $71.89, for a total value of $45,290.70. Following the completion of the transaction, the vice president now directly owns 5,271 shares in the company, valued at approximately $378,932.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher John Perry sold 73,936 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $72.57, for a total transaction of $5,365,535.52. Following the completion of the transaction, the senior vice president now owns 91,276 shares of the company’s stock, valued at $6,623,899.32. The disclosure for this sale can be found here. Insiders sold a total of 323,032 shares of company stock valued at $24,016,648 over the last quarter. 3.50% of the stock is owned by company insiders.
About Broadridge Financial Solutions
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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