Quantitative Investment Management LLC Purchases Shares of 66,800 Broadridge Financial Solutions, Inc. (BR)
Quantitative Investment Management LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 66,800 shares of the business services provider’s stock, valued at approximately $5,047,000. Quantitative Investment Management LLC owned 0.06% of Broadridge Financial Solutions as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Acrospire Investment Management LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $108,000. Global X Management Co. LLC lifted its position in Broadridge Financial Solutions by 8.5% in the 2nd quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 120 shares during the last quarter. Commonwealth Bank of Australia lifted 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 valued at $120,000 after purchasing an additional 600 shares during the last quarter. Van ECK Associates Corp lifted 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 valued at $123,000 after purchasing an additional 135 shares during the last quarter. Finally, Airain ltd bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $204,000. 83.77% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on BR. BidaskClub downgraded shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. DA Davidson began coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price objective on the stock. Finally, Barclays PLC lifted their price objective on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Five investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $74.00.
Shares of Broadridge Financial Solutions, Inc. (NYSE BR) opened at 80.93 on Monday. The company has a market capitalization of $9.43 billion, a P/E ratio of 29.97 and a beta of 0.97. Broadridge Financial Solutions, Inc. has a 12 month low of $59.86 and a 12 month high of $80.93. The company has a 50-day moving average of $77.13 and a 200 day moving average of $73.33.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The company’s revenue was up 38.1% on a year-over-year basis. Analysts forecast that Broadridge Financial Solutions, Inc. will post $3.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.365 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.80%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio is currently 53.48%.
In other Broadridge Financial Solutions news, Director Stuart R. Levine sold 7,868 shares of the stock in a transaction dated Friday, August 18th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam D. Amsterdam sold 17,813 shares of the stock in a transaction dated 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 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. 3.50% of the stock is owned by corporate insiders.
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About Broadridge Financial Solutions
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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