Macquarie Group Ltd. increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 193.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,662 shares of the business services provider’s stock after purchasing an additional 125,686 shares during the quarter. Macquarie Group Ltd. owned approximately 0.16% of Broadridge Financial Solutions worth $14,407,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC bought a new stake in Broadridge Financial Solutions during the second quarter valued at $108,000. Global X Management Co. LLC boosted its position in Broadridge Financial Solutions by 8.5% during 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 acquiring an additional 120 shares during the last quarter. Commonwealth Bank of Australia boosted its position in Broadridge Financial Solutions by 60.0% during the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock valued at $120,000 after acquiring an additional 600 shares during the last quarter. Van ECK Associates Corp boosted its position in Broadridge Financial Solutions by 8.0% during the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 135 shares during the last quarter. Finally, Airain ltd bought a new stake in Broadridge Financial Solutions during the second quarter valued at $204,000. 83.72% of the stock is currently owned by institutional investors.
Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 82.59 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $59.86 and a one year high of $82.80. The stock’s 50 day moving average is $79.99 and its 200 day moving average is $74.92. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 30.59 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The company’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. On average, analysts predict that Broadridge Financial Solutions, Inc. will post $3.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th were paid a dividend of $0.365 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.77%. Broadridge Financial Solutions’s payout ratio is presently 53.48%.
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In other news, insider Richard J. Daly sold 94,039 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stuart R. Levine sold 7,868 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total transaction of $602,531.44. Following the sale, the director now directly owns 39,747 shares in the company, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. Insiders have sold a total of 119,720 shares of company stock worth $9,679,916 in the last ninety days. Insiders own 2.60% of the company’s stock.
A number of brokerages have commented on BR. BidaskClub raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Barclays PLC upped their price target 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 began 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 target on the stock.
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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