Rockland Trust Co. trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,704 shares of the business services provider’s stock after selling 79 shares during the period. Rockland Trust Co.’s holdings in Broadridge Financial Solutions were worth $228,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its position in Broadridge Financial Solutions by 10.7% during the first quarter. American Century Companies Inc. now owns 8,155 shares of the business services provider’s stock valued at $1,270,000 after buying an additional 788 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Broadridge Financial Solutions by 6.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,625 shares of the business services provider’s stock valued at $2,433,000 after buying an additional 992 shares during the period. Raymond James Trust N.A. raised its position in Broadridge Financial Solutions by 126.2% during the first quarter. Raymond James Trust N.A. now owns 3,384 shares of the business services provider’s stock valued at $527,000 after buying an additional 1,888 shares during the period. Canada Pension Plan Investment Board raised its position in Broadridge Financial Solutions by 1,851.9% during the first quarter. Canada Pension Plan Investment Board now owns 527 shares of the business services provider’s stock valued at $82,000 after buying an additional 500 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Broadridge Financial Solutions by 13.2% during the first quarter. Allianz Asset Management GmbH now owns 12,722 shares of the business services provider’s stock valued at $1,981,000 after buying an additional 1,487 shares during the period. 86.45% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 1,425 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $141.06, for a total value of $201,010.50. Following the completion of the sale, the director now owns 6,275 shares in the company, valued at approximately $885,151.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.
Broadridge Financial Solutions Price Performance
Broadridge Financial Solutions (NYSE:BR – Get Rating) last announced its earnings results on Thursday, February 2nd. The business services provider reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. Broadridge Financial Solutions had a return on equity of 40.38% and a net margin of 9.13%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company earned $0.83 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts predict that Broadridge Financial Solutions, Inc. will post 6.91 earnings per share for the current year.
Broadridge Financial Solutions Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be given a $0.725 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $2.90 dividend on an annualized basis and a dividend yield of 1.98%. Broadridge Financial Solutions’s dividend payout ratio is currently 64.73%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on BR. Morgan Stanley began coverage on Broadridge Financial Solutions in a research report on Wednesday, December 14th. They issued an “equal weight” rating and a $160.00 target price on the stock. Wolfe Research dropped their target price on Broadridge Financial Solutions from $137.00 to $135.00 in a research report on Thursday, January 5th. Raymond James increased their price objective on Broadridge Financial Solutions from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. TheStreet raised Broadridge Financial Solutions from a “c+” rating to a “b” rating in a report on Thursday, February 2nd. Finally, StockNews.com began coverage on Broadridge Financial Solutions in a report on Thursday, March 16th. They set a “hold” rating on the stock.
Broadridge Financial Solutions Profile
Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.
Read More
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