BB&T Securities LLC boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,349 shares of the business services provider’s stock after buying an additional 1,925 shares during the period. BB&T Securities LLC’s holdings in Broadridge Financial Solutions were worth $2,746,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Broadridge Financial Solutions by 5,792.7% in the first quarter. BlackRock Inc. now owns 12,054,537 shares of the business services provider’s stock valued at $819,107,000 after buying an additional 11,849,968 shares in the last quarter. Vanguard Group Inc. boosted its stake in Broadridge Financial Solutions by 3.8% in the first quarter. Vanguard Group Inc. now owns 10,101,144 shares of the business services provider’s stock valued at $686,373,000 after buying an additional 369,176 shares during the last quarter. Independence Advisors LLC bought a new stake in Broadridge Financial Solutions during the second quarter valued at about $21,006,000. Scout Investments Inc. bought a new stake in Broadridge Financial Solutions during the first quarter valued at about $14,727,000. Finally, Baird Financial Group Inc. boosted its stake in Broadridge Financial Solutions by 53.0% in the first quarter. Baird Financial Group Inc. now owns 646,253 shares of the business services provider’s stock valued at $43,913,000 after buying an additional 223,959 shares during the last quarter. 85.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of Broadridge Financial Solutions, Inc. (BR) opened at 76.89 on Wednesday. The stock’s 50 day moving average is $75.44 and its 200 day moving average is $71.96. The company has a market cap of $8.96 billion, a PE ratio of 28.48 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 posted its earnings results on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.71. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Broadridge Financial Solutions had a return on equity of 77.12% and a net margin of 13.90%. Broadridge Financial Solutions’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 earnings per share. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post $3.71 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 1.90%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, September 14th. Broadridge Financial Solutions’s payout ratio is presently 48.35%.
Several equities research analysts have recently issued reports on BR shares. BidaskClub upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Barclays PLC lifted their price objective on shares of 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. Finally, DA Davidson started coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They set a “neutral” rating and a $74.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $76.00.
In other Broadridge Financial Solutions news, insider Robert Schifellite sold 76,666 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the sale, the insider now directly owns 105,042 shares in the company, valued at $7,981,091.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $76.58, for a total value of $602,531.44. Following the sale, the director now owns 39,747 shares in the company, valued at $3,043,825.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,919 shares of company stock worth $9,012,335. 3.50% of the stock is owned by company insiders.
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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