14,490 Shares in Broadridge Financial Solutions, Inc. (BR) Purchased by Griffin Asset Management Inc.
Griffin Asset Management Inc. purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,490 shares of the business services provider’s stock, valued at approximately $1,171,000.
A number of other institutional investors have also added to or reduced their stakes in BR. ETF Managers Group LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth about $144,000. Acrospire Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth about $108,000. Toronto Dominion Bank raised its stake in shares of Broadridge Financial Solutions by 11.4% in the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after purchasing an additional 149 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of 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 worth $116,000 after purchasing an additional 120 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Broadridge Financial Solutions by 82.8% in the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after purchasing an additional 706 shares during the last quarter. Institutional investors own 83.55% of the company’s stock.
Broadridge Financial Solutions, Inc. (NYSE:BR) opened at $89.80 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $10,434.95, a P/E ratio of 26.89, a P/E/G ratio of 2.41 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12-month low of $64.57 and a 12-month high of $91.75.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $925.00 million during the quarter, compared to analysts’ expectations of $923.68 million. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. Broadridge Financial Solutions’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. equities analysts predict that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 50.87%.
In other Broadridge Financial Solutions news, Director Richard J. Haviland sold 7,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total value of $677,544.05. Following the sale, the director now directly owns 44,482 shares of the company’s stock, valued at $3,937,101.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard J. Daly sold 94,039 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,875 shares of company stock valued at $12,784,264. 2.60% of the stock is owned by company insiders.
Several research analysts have recently issued reports on BR shares. Barclays raised their price objective on Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. BidaskClub upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. DA Davidson restated a “hold” rating and issued a $86.00 price objective on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. Five investment analysts have rated the stock with a hold rating, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $90.50.
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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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