Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 59.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,781 shares of the business services provider’s stock after purchasing an additional 26,421 shares during the quarter. Amundi Pioneer Asset Management Inc. owned about 0.06% of Broadridge Financial Solutions worth $7,764,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Centaurus Financial Inc. bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at approximately $116,000. Captrust Financial Advisors bought a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $133,000. Assetmark Inc. raised its stake in Broadridge Financial Solutions by 397.5% during the 4th quarter. Assetmark Inc. now owns 1,582 shares of the business services provider’s stock valued at $143,000 after purchasing an additional 1,264 shares during the period. Weatherstone Capital Management bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at approximately $201,000. Finally, Fiduciary Trust Co. bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at approximately $223,000. 84.64% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on BR. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, DA Davidson raised their price target on Broadridge Financial Solutions from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, March 28th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $100.25.
NYSE BR opened at $113.21 on Thursday. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 2.72 and a beta of 0.86. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.57 and a quick ratio of 1.57. Broadridge Financial Solutions, Inc. has a 1-year low of $71.58 and a 1-year high of $119.99.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, May 8th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.21. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Broadridge Financial Solutions had a return on equity of 45.33% and a net margin of 9.37%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. research analysts forecast that Broadridge Financial Solutions, Inc. will post 4.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Friday, June 15th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Thursday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 46.65%.
In other news, CEO Richard J. Daly sold 26,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $107.44, for a total value of $2,793,440.00. Following the completion of the transaction, the chief executive officer now owns 337,845 shares in the company, valued at approximately $36,298,066.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Julie R. Taylor sold 7,366 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $118.36, for a total value of $871,839.76. Following the completion of the transaction, the vice president now owns 11,262 shares of the company’s stock, valued at approximately $1,332,970.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,270 shares of company stock valued at $23,520,457. Company insiders own 2.60% of the company’s stock.
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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