M&G Investment Management Ltd. lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 23.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,949 shares of the business services provider’s stock after selling 20,966 shares during the quarter. M&G Investment Management Ltd. owned approximately 0.06% of Broadridge Financial Solutions worth $10,549,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tompkins Financial Corp bought a new position in Broadridge Financial Solutions during the 4th quarter valued at approximately $29,000. Associated Banc Corp bought a new position in Broadridge Financial Solutions during the 4th quarter valued at approximately $30,000. Regent Peak Wealth Advisors LLC bought a new position in Broadridge Financial Solutions during the 4th quarter valued at approximately $31,000. Childress Capital Advisors LLC bought a new position in Broadridge Financial Solutions during the 4th quarter valued at approximately $43,000. Finally, Reby Advisors LLC bought a new position in Broadridge Financial Solutions during the 4th quarter valued at approximately $44,000. Institutional investors own 86.01% of the company’s stock.
In other Broadridge Financial Solutions news, VP Laura Matlin sold 1,369 shares of Broadridge Financial Solutions stock in a transaction on Thursday, May 20th. The stock was sold at an average price of $160.05, for a total value of $219,108.45. Following the completion of the sale, the vice president now owns 6,295 shares of the company’s stock, valued at approximately $1,007,514.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Monday, May 3rd. The business services provider reported $1.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.28 billion. Broadridge Financial Solutions had a return on equity of 45.63% and a net margin of 10.71%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $1.67 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 5.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 2nd. Shareholders of record on Tuesday, June 15th will be issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, June 14th. Broadridge Financial Solutions’s payout ratio is 45.73%.
Broadridge Financial Solutions Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and offers ProxyEdge, an electronic proxy delivery and voting solution.
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