Macquarie Group Ltd. Has $14.41 Million Position in Broadridge Financial Solutions, Inc. (BR)

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%.

TRADEMARK VIOLATION WARNING: “Macquarie Group Ltd. Has $14.41 Million Position in Broadridge Financial Solutions, Inc. (BR)” was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/10/14/macquarie-group-ltd-has-14-41-million-position-in-broadridge-financial-solutions-inc-br.html.

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.

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR).

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply