M&T Bank Corp decreased its stake in shares of Broadridge Financial Solutions Inc. (NYSE:BR) by 10.6% during the third quarter, Holdings Channel reports. The institutional investor owned 68,602 shares of the company’s stock after selling 8,146 shares during the period. M&T Bank Corp owned 0.06% of Broadridge Financial Solutions worth $4,650,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of BR. Northwestern Mutual Wealth Management Co. boosted its position in Broadridge Financial Solutions by 12.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,574 shares of the company’s stock valued at $103,000 after buying an additional 176 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in Broadridge Financial Solutions by 214.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,125 shares of the company’s stock valued at $139,000 after buying an additional 1,450 shares during the last quarter. Penserra Capital Management LLC boosted its position in Broadridge Financial Solutions by 97.2% in the third quarter. Penserra Capital Management LLC now owns 2,378 shares of the company’s stock valued at $160,000 after buying an additional 1,172 shares during the last quarter. Capital Guardian Trust Co. boosted its position in Broadridge Financial Solutions by 13.4% in the second quarter. Capital Guardian Trust Co. now owns 2,525 shares of the company’s stock valued at $165,000 after buying an additional 299 shares during the last quarter. Finally, Strs Ohio acquired a new position in Broadridge Financial Solutions during the second quarter valued at about $173,000. 83.65% of the stock is owned by hedge funds and other institutional investors.
Broadridge Financial Solutions Inc. (NYSE:BR) traded up 0.21% during midday trading on Monday, hitting $66.00. The company had a trading volume of 186,574 shares. Broadridge Financial Solutions Inc. has a 12-month low of $48.56 and a 12-month high of $71.74. The company’s 50 day moving average is $64.41 and its 200 day moving average is $66.03. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 26.09 and a beta of 1.10.
Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, November 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business earned $895 million during the quarter, compared to the consensus estimate of $880.41 million. During the same period in the prior year, the business earned $0.33 EPS. The business’s revenue was up 50.4% on a year-over-year basis. On average, equities analysts anticipate that Broadridge Financial Solutions Inc. will post $3.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a $0.33 dividend. The ex-dividend date is Monday, December 12th. This represents a $1.32 dividend on an annualized basis and a yield of 2.00%. Broadridge Financial Solutions’s dividend payout ratio is currently 52.17%.
Several research firms have issued reports on BR. Barclays PLC boosted their target price on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. Atlantic Securities began coverage on Broadridge Financial Solutions in a research report on Tuesday, September 13th. They set an “overweight” rating and a $82.00 target price on the stock. Zacks Investment Research cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research 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 target price on the stock. in a research report on Thursday, September 29th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $72.60.
In other Broadridge Financial Solutions news, Director Leslie A. Brun sold 7,925 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $62.66, for a total value of $496,580.50. Following the transaction, the director now owns 30,622 shares of the company’s stock, valued at $1,918,774.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stuart R. Levine sold 8,170 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $64.98, for a total transaction of $530,886.60. Following the completion of the transaction, the director now directly owns 35,130 shares in the company, valued at approximately $2,282,747.40. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.
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.