Broadridge Financial Solutions, Inc. (BR) Position Decreased by Teachers Advisors LLC
Teachers Advisors LLC reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,459 shares of the business services provider’s stock after selling 4,738 shares during the period. Teachers Advisors LLC owned 0.10% of Broadridge Financial Solutions worth $9,177,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global X Management Co. LLC boosted its holdings 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 worth $116,000 after purchasing an additional 120 shares during the last quarter. Commonwealth Bank of Australia grew its position in Broadridge Financial Solutions by 60.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after purchasing an additional 600 shares in the last quarter. Van ECK Associates Corp grew its position in Broadridge Financial Solutions by 8.0% in the 1st quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock worth $123,000 after purchasing an additional 135 shares in the last quarter. Airain ltd bought a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $204,000. Finally, Fiduciary Trust Co. bought a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $212,000. 83.77% of the stock is currently owned by institutional investors.
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Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 81.71 on Wednesday. Broadridge Financial Solutions, Inc. has a 52-week low of $59.86 and a 52-week high of $82.10. The stock has a market cap of $9.52 billion, a PE ratio of 30.26 and a beta of 0.99. The firm has a 50-day moving average price of $78.76 and a 200 day moving average price of $74.21.
Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The business’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.45 earnings per share. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post $3.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th were issued a dividend of $0.365 per share. This is a boost 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 1.79%. Broadridge Financial Solutions’s dividend payout ratio is presently 53.48%.
Several equities research analysts have commented on BR shares. BidaskClub lowered shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Barclays PLC boosted their target price on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Finally, DA Davidson started coverage on Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price on the stock.
In related news, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the completion of the transaction, the director now directly owns 39,747 shares in the company, valued at approximately $3,043,825.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam D. Amsterdam sold 17,813 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the completion of the transaction, the insider now owns 20,646 shares of the company’s stock, valued at $1,588,916.16. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.
Broadridge Financial Solutions 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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