BW Gestao de Investimentos Ltda. lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,244 shares of the business services provider’s stock after selling 711 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in Broadridge Financial Solutions were worth $472,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its stake in shares of Broadridge Financial Solutions by 0.7% during the second quarter. Ameritas Investment Partners Inc. now owns 45,485 shares of the business services provider’s stock valued at $3,437,000 after acquiring an additional 319 shares during the period. Castleark Management LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter valued at $413,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Broadridge Financial Solutions by 121.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,835 shares of the business services provider’s stock valued at $970,000 after acquiring an additional 7,049 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Broadridge Financial Solutions by 9.4% during the second quarter. Coldstream Capital Management Inc. now owns 10,956 shares of the business services provider’s stock valued at $828,000 after acquiring an additional 945 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Broadridge Financial Solutions by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 174,004 shares of the business services provider’s stock valued at $13,147,000 after acquiring an additional 2,300 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.
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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 transaction, the insider now directly owns 20,646 shares of the company’s stock, valued at approximately $1,588,916.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the completion of the transaction, the director now directly owns 39,747 shares in the company, valued at $3,043,825.26. The disclosure for this sale can be found here. Insiders have sold a total of 119,720 shares of company stock worth $9,679,916 over the last ninety days. Company insiders own 2.60% of the company’s stock.
Broadridge Financial Solutions, Inc. (BR) traded up 0.64% during trading on Friday, reaching $82.74. The company’s stock had a trading volume of 54,968 shares. The firm has a 50 day moving average price of $79.82 and a 200-day moving average price of $74.81. Broadridge Financial Solutions, Inc. has a 52-week low of $59.86 and a 52-week high of $82.80. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 30.64 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.71. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post $3.72 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were issued a dividend of $0.365 per share. The ex-dividend date was Thursday, September 14th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. This represents a $1.46 annualized dividend and a yield of 1.78%. Broadridge Financial Solutions’s payout ratio is presently 53.48%.
BR has been the topic of several research reports. BidaskClub raised Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Barclays PLC upped their price target on Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Finally, DA Davidson started coverage on Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price on the stock.
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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