Aperio Group LLC lowered its stake in shares of Broadridge Financial Solutions Inc. (NYSE:BR) by 2.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,262 shares of the company’s stock after selling 2,054 shares during the period. Aperio Group LLC’s holdings in Broadridge Financial Solutions were worth $5,712,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in Broadridge Financial Solutions by 32.2% in the third quarter. First Trust Advisors LP now owns 182,905 shares of the company’s stock valued at $12,399,000 after buying an additional 44,554 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Broadridge Financial Solutions by 11.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 10,093 shares of the company’s stock valued at $684,000 after buying an additional 998 shares during the period. Mutual of America Capital Management LLC boosted its stake in Broadridge Financial Solutions by 2.3% in the third quarter. Mutual of America Capital Management LLC now owns 89,147 shares of the company’s stock valued at $6,043,000 after buying an additional 2,009 shares during the period. Mizuho Trust & Banking Co. Ltd. boosted its stake in Broadridge Financial Solutions by 2.7% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 181,852 shares of the company’s stock valued at $12,328,000 after buying an additional 4,824 shares during the period. Finally, Quantbot Technologies LP boosted its stake in Broadridge Financial Solutions by 1,094.6% in the third quarter. Quantbot Technologies LP now owns 8,338 shares of the company’s stock valued at $565,000 after buying an additional 7,640 shares during the period. Institutional investors own 83.65% of the company’s stock.
Shares of Broadridge Financial Solutions Inc. (NYSE:BR) traded up 0.12% on Monday, hitting $65.94. The stock had a trading volume of 544,530 shares. The company has a market cap of $7.85 billion, a P/E ratio of 26.06 and a beta of 1.10. Broadridge Financial Solutions Inc. has a 52-week low of $48.56 and a 52-week high of $71.74. The company has a 50-day moving average of $64.41 and a 200-day moving average of $66.03.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Broadridge Financial Solutions had a return on equity of 34.10% and a net margin of 9.62%. The company had revenue of $895 million for the quarter, compared to the consensus estimate of $880.41 million. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue was up 50.4% compared to the same quarter last year. On average, equities analysts anticipate that Broadridge Financial Solutions Inc. will post $3.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, December 12th. This represents a $1.32 annualized dividend and a yield of 2.00%. Broadridge Financial Solutions’s payout ratio is currently 52.17%.
Several equities research analysts have weighed in on the company. Barclays PLC increased their price objective on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Atlantic Securities assumed coverage on Broadridge Financial Solutions in a report on Tuesday, September 13th. They issued an “overweight” rating and a $82.00 price objective for the company. Zacks Investment Research cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Finally, Sandler O’Neill cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a report on Thursday, September 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $72.60.
In other Broadridge Financial Solutions news, insider Richard J. Daly sold 6,095 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $68.13, for a total transaction of $415,252.35. Following the sale, the insider now directly owns 254,104 shares of the company’s stock, valued at $17,312,105.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie A. Brun sold 7,925 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $62.66, for a total value of $496,580.50. Following the sale, the director now directly owns 30,622 shares in the company, valued at $1,918,774.52. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s 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.