Harbor Capital Advisors Inc. lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 49.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,842 shares of the business services provider’s stock after selling 4,702 shares during the period. Harbor Capital Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $1,174,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of BR. Vanguard Group Inc. lifted its position in shares of Broadridge Financial Solutions by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock worth $3,231,904,000 after purchasing an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock valued at $804,952,000 after purchasing an additional 1,186,555 shares during the period. Geode Capital Management LLC increased its stake in Broadridge Financial Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock valued at $684,971,000 after purchasing an additional 37,141 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Broadridge Financial Solutions by 2.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock valued at $378,175,000 after purchasing an additional 43,533 shares during the period. Finally, Barclays PLC increased its stake in shares of Broadridge Financial Solutions by 2.5% during the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider’s stock worth $372,713,000 after acquiring an additional 40,506 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.
Analyst Ratings Changes
BR has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Needham & Company LLC started coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $250.83.
Get Our Latest Analysis on BR
Broadridge Financial Solutions Trading Down 0.6%
Shares of BR opened at $239.76 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $28.16 billion, a P/E ratio of 37.52 and a beta of 0.96. The stock’s fifty day simple moving average is $236.97 and its 200 day simple moving average is $235.04. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted $2.23 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.
Broadridge Financial Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions’s payout ratio is 52.93%.
Insider Transactions at Broadridge Financial Solutions
In related news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider now directly owns 1,070 shares in the company, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the transaction, the vice president now owns 6,077 shares of the company’s stock, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is currently owned by insiders.
Broadridge Financial Solutions Profile
(Free Report)
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.
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