Pacer Advisors Inc. Increases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)
Pacer Advisors Inc. increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,982 shares of the business services provider’s stock after purchasing an additional 1,039 shares during the quarter. Pacer Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $1,402,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of BR. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Broadridge Financial Solutions by 49.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 201,710 shares of the business services provider’s stock valued at $25,754,000 after acquiring an additional 66,970 shares in the last quarter. Copeland Capital Management LLC grew its position in Broadridge Financial Solutions by 14.1% in the second quarter. Copeland Capital Management LLC now owns 111,523 shares of the business services provider’s stock valued at $14,239,000 after acquiring an additional 13,793 shares in the last quarter. Raymond James & Associates grew its position in Broadridge Financial Solutions by 3.2% in the first quarter. Raymond James & Associates now owns 313,156 shares of the business services provider’s stock valued at $32,472,000 after acquiring an additional 9,726 shares in the last quarter. Stratos Wealth Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 56.6% during the 1st quarter. Stratos Wealth Advisors LLC now owns 4,484 shares of the business services provider’s stock valued at $465,000 after buying an additional 1,620 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Broadridge Financial Solutions by 1.8% during the 1st quarter. CIBC Asset Management Inc now owns 16,066 shares of the business services provider’s stock valued at $1,666,000 after buying an additional 280 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Adam D. Amsterdam sold 20,880 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $128.92, for a total transaction of $2,691,849.60. Following the transaction, the vice president now directly owns 20,365 shares in the company, valued at $2,625,455.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stuart R. Levine sold 25,260 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $126.27, for a total value of $3,189,580.20. Following the transaction, the director now owns 47,886 shares in the company, valued at $6,046,565.22. The disclosure for this sale can be found here. Insiders have sold 198,557 shares of company stock worth $25,390,855 over the last 90 days. 2.30% of the stock is currently owned by company insiders.
Shares of Broadridge Financial Solutions stock traded up $0.17 on Friday, hitting $124.47. 3,669 shares of the company’s stock traded hands, compared to its average volume of 627,936. The stock has a market cap of $14.21 billion, a P/E ratio of 26.71, a PEG ratio of 2.44 and a beta of 0.71. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.30. The firm’s 50-day moving average is $128.67 and its 200 day moving average is $120.45. Broadridge Financial Solutions, Inc. has a 52-week low of $91.34 and a 52-week high of $138.24.
Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, August 1st. The business services provider reported $1.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.72. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business posted $1.86 EPS. The business’s revenue was down 8.3% on a year-over-year basis. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 5.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a yield of 1.74%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 41.63%.
About Broadridge Financial Solutions
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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