Marshall Wace LLP acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,556 shares of the business services provider’s stock, valued at approximately $1,198,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. Whittier Trust Co. boosted its position in shares of Broadridge Financial Solutions by 117.3% during the fourth quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock valued at $28,000 after buying an additional 156 shares during the last quarter. Roble Belko & Company Inc purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $30,000. Pinnacle Bank purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $34,000. Icon Wealth Partners LLC purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $39,000. Finally, Financial Gravity Wealth Inc. purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.
In related news, VP Douglas Richard Deschutter sold 13,167 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $122.50, for a total transaction of $1,612,957.50. Following the completion of the sale, the vice president now directly owns 103,849 shares in the company, valued at approximately $12,721,502.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stuart R. Levine sold 35,810 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $123.51, for a total value of $4,422,893.10. Following the sale, the director now owns 42,874 shares of the company’s stock, valued at $5,295,367.74. The disclosure for this sale can be found here. Insiders sold a total of 190,149 shares of company stock valued at $23,659,712 over the last quarter. Company insiders own 2.30% of the company’s stock.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, May 7th. The business services provider reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.10. Broadridge Financial Solutions had a return on equity of 48.71% and a net margin of 11.31%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 4.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Thursday, June 13th. Broadridge Financial Solutions’s payout ratio is currently 46.30%.
Several research analysts recently issued reports on BR shares. SunTrust Banks lifted their target price on HubSpot to $205.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research raised Garrett Motion from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Raymond James set a $57.00 target price on National Retail Properties and gave the company a “hold” rating in a research report on Monday, May 20th. ValuEngine raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Finally, DA Davidson set a $14.00 price objective on MACOM Technology Solutions and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Broadridge Financial Solutions presently has a consensus rating of “Buy” and an average price target of $126.00.
Broadridge Financial Solutions Profile
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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