Vaughan Nelson Investment Management L.P. Has $42.05 Million Stake in Broadridge Financial Solutions, Inc. (BR)

Vaughan Nelson Investment Management L.P. trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 46.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 520,308 shares of the business services provider’s stock after selling 445,869 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.45% of Broadridge Financial Solutions worth $42,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its stake in Broadridge Financial Solutions by 0.7% during the 2nd quarter. BlackRock Inc. now owns 12,134,364 shares of the business services provider’s stock worth $916,871,000 after buying an additional 79,827 shares during the last quarter. Janus Henderson Group PLC grew its stake in Broadridge Financial Solutions by 1,647.4% during the 2nd quarter. Janus Henderson Group PLC now owns 7,181,963 shares of the business services provider’s stock worth $542,669,000 after buying an additional 6,770,958 shares during the last quarter. Bank of New York Mellon Corp grew its stake in 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 buying an additional 10,182 shares during the last quarter. Northern Trust Corp grew its stake in Broadridge Financial Solutions by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,437,887 shares of the business services provider’s stock worth $108,647,000 after buying an additional 10,569 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Broadridge Financial Solutions by 91.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,408,096 shares of the business services provider’s stock worth $106,396,000 after buying an additional 674,307 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Vaughan Nelson Investment Management L.P. Has $42.05 Million Stake in Broadridge Financial Solutions, Inc. (BR)” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/11/13/vaughan-nelson-investment-management-l-p-has-42-05-million-stake-in-broadridge-financial-solutions-inc-br.html.

Shares of Broadridge Financial Solutions, Inc. (NYSE BR) traded up $0.62 on Friday, reaching $88.45. The company’s stock had a trading volume of 638,400 shares, compared to its average volume of 391,326. Broadridge Financial Solutions, Inc. has a 12 month low of $60.25 and a 12 month high of $91.75. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 1.25. The firm has a market cap of $10,309.02, a PE ratio of 26.56, a P/E/G ratio of 2.38 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.12. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. The company had revenue of $925.00 million during the quarter, compared to analysts’ expectations of $923.68 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. equities research analysts predict that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current fiscal year.

In other news, insider Adam D. Amsterdam sold 17,813 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total value 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 approximately $1,588,916.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard J. Daly sold 94,039 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,720 shares of company stock valued at $9,679,916. 2.60% of the stock is currently owned by insiders.

Several brokerages recently weighed in on BR. Barclays PLC boosted their target price on Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday. DA Davidson reaffirmed a “hold” rating and set a $86.00 price target on shares of Broadridge Financial Solutions in a research report on Thursday. Finally, BidaskClub raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd.

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.

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply