Broadridge Financial Solutions, Inc. (BR) Shares Sold by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 286,522 shares of the business services provider’s stock after selling 19,025 shares during the period. Parametric Portfolio Associates LLC owned about 0.24% of Broadridge Financial Solutions worth $21,650,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in Broadridge Financial Solutions by 0.7% in the 2nd quarter. BlackRock Inc. now owns 12,134,364 shares of the business services provider’s stock worth $916,871,000 after purchasing an additional 79,827 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Broadridge Financial Solutions by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 10,101,144 shares of the business services provider’s stock worth $686,373,000 after purchasing an additional 369,176 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Broadridge Financial Solutions by 2.4% during the 1st quarter. Janus Capital Management LLC now owns 7,882,947 shares of the business services provider’s stock worth $535,646,000 after purchasing an additional 187,411 shares in the last quarter. State Street Corp raised its stake in shares of Broadridge Financial Solutions by 0.8% during the 1st quarter. State Street Corp now owns 4,345,508 shares of the business services provider’s stock worth $295,283,000 after purchasing an additional 33,020 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Broadridge Financial Solutions by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,438,336 shares of the business services provider’s stock worth $184,239,000 after purchasing an additional 10,182 shares in the last quarter. 83.77% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction 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 sale, the director now owns 39,747 shares of the company’s stock, valued at $3,043,825.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Adam D. Amsterdam sold 17,813 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 20,646 shares in the company, valued at approximately $1,588,916.16. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.
BR has been the subject of several research reports. BidaskClub lowered Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. DA Davidson started coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price objective on the stock. Finally, Barclays PLC increased their price objective on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th.
Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 81.71 on Wednesday. Broadridge Financial Solutions, Inc. has a 12-month low of $59.86 and a 12-month high of $82.10. The company has a market cap of $9.52 billion, a P/E ratio of 30.26 and a beta of 0.99. The stock’s 50 day moving average is $78.76 and its 200-day moving average is $74.21.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.71. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $1.45 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 38.1% compared to the same quarter last year. Analysts predict 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. Shareholders of record on Friday, September 15th were given a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.79%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio is 53.48%.
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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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