Wellington Management Group LLP boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.3% during the first quarter, Holdings Channel.com reports. The firm owned 2,518 shares of the business services provider’s stock after purchasing an additional 390 shares during the quarter. Wellington Management Group LLP’s holdings in Broadridge Financial Solutions were worth $239,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Atlanta Capital Management Co. L L C lifted its position in shares of Broadridge Financial Solutions by 13.0% during the first quarter. Atlanta Capital Management Co. L L C now owns 2,080,995 shares of the business services provider’s stock valued at $197,341,000 after buying an additional 239,934 shares during the last quarter. Geode Capital Management LLC lifted its position in Broadridge Financial Solutions by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 1,834,303 shares of the business services provider’s stock valued at $226,177,000 after acquiring an additional 89,429 shares during the last quarter. Norges Bank acquired a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $135,947,000. California Public Employees Retirement System grew its holdings in Broadridge Financial Solutions by 1.2% in the first quarter. California Public Employees Retirement System now owns 963,993 shares of the business services provider’s stock worth $91,415,000 after purchasing an additional 11,491 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Broadridge Financial Solutions by 18.0% in the first quarter. Swiss National Bank now owns 953,589 shares of the business services provider’s stock worth $90,429,000 after purchasing an additional 145,400 shares during the last quarter. Institutional investors own 85.17% of the company’s stock.
A number of analysts have recently weighed in on BR shares. Rosenblatt Securities raised their price objective on Broadridge Financial Solutions from $101.00 to $115.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. BTIG Research reissued a “buy” rating and issued a $135.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $132.67.
Shares of BR opened at $125.77 on Wednesday. The firm has a market capitalization of $14.44 billion, a PE ratio of 35.43 and a beta of 0.90. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a 1-year low of $81.90 and a 1-year high of $136.99. The company’s fifty day moving average price is $121.28 and its 200-day moving average price is $115.81.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.67 EPS for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.03). The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. Broadridge Financial Solutions had a return on equity of 46.99% and a net margin of 9.50%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 EPS. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be given a $0.54 dividend. The ex-dividend date is Thursday, June 11th. This represents a $2.16 dividend on an annualized basis and a yield of 1.72%. Broadridge Financial Solutions’s dividend payout ratio is currently 46.35%.
In other news, CFO James M. Young sold 98,336 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $119.46, for a total transaction of $11,747,218.56. Following the sale, the chief financial officer now owns 68,629 shares of the company’s stock, valued at approximately $8,198,420.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Schifellite sold 26,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.64, for a total transaction of $3,292,640.00. Following the transaction, the senior vice president now directly owns 72,445 shares of the company’s stock, valued at $9,174,434.80. The disclosure for this sale can be found here. Insiders sold 155,940 shares of company stock worth $18,898,829 in the last quarter. Company insiders own 2.20% of the company’s stock.
Broadridge Financial Solutions Company 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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