Ajo LP Sells 2,590 Shares of Broadridge Financial Solutions, Inc. (BR)
Ajo LP lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,238 shares of the business services provider’s stock after selling 2,590 shares during the quarter. Ajo LP’s holdings in Broadridge Financial Solutions were worth $1,756,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in BR. 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 acquiring an additional 11,849,968 shares during the last quarter. Jensen Investment Management Inc. acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $77,899,000. Principal Financial Group Inc. increased its position in shares of Broadridge Financial Solutions by 91.9% in the second quarter. Principal Financial Group Inc. now owns 1,408,096 shares of the business services provider’s stock valued at $106,396,000 after acquiring an additional 674,307 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 369,176 shares during the last quarter. Finally, Independence Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $21,006,000. 83.77% of the stock is currently owned by institutional investors and hedge funds.
Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 79.11 on Wednesday. Broadridge Financial Solutions, Inc. has a 12 month low of $59.86 and a 12 month high of $80.48. The firm has a market cap of $9.21 billion, a P/E ratio of 29.30 and a beta of 0.97. The firm’s 50-day moving average price is $77.13 and its 200-day moving average price is $73.33.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.71. The firm had revenue of $1.35 billion during 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 for the quarter was up 38.1% on a year-over-year basis. During the same quarter last year, the business posted $1.45 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post $3.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be paid a $0.365 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, September 14th. This represents a $1.46 annualized dividend and a yield of 1.85%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 53.48%.
In other news, insider Adam D. Amsterdam sold 17,813 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the completion of the sale, the insider now owns 20,646 shares in the company, valued at approximately $1,588,916.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stuart R. Levine sold 7,868 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.58, for a total transaction of $602,531.44. Following the sale, the director now owns 39,747 shares of the company’s stock, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.
BR has been the topic of a number of recent research reports. BidaskClub raised Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. DA Davidson assumed coverage on 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. Finally, Barclays PLC boosted their price target on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Five research analysts have rated the stock with a hold rating, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $74.00.
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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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