Broadridge Financial Solutions, Inc. (BR) Stake Increased by Legal & General Group Plc

Legal & General Group Plc lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 730,628 shares of the business services provider’s stock after buying an additional 27,302 shares during the quarter. Legal & General Group Plc owned about 0.63% of Broadridge Financial Solutions worth $59,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Acrospire Investment Management LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth $108,000. Toronto Dominion Bank lifted its holdings in shares of Broadridge Financial Solutions by 11.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after purchasing an additional 149 shares in the last quarter. Global X Management Co. LLC lifted its holdings in shares of Broadridge Financial Solutions by 8.5% in the 2nd quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after purchasing an additional 120 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of Broadridge Financial Solutions by 82.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after purchasing an additional 706 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its holdings in shares of Broadridge Financial Solutions by 60.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after purchasing an additional 600 shares in the last quarter. 83.54% of the stock is owned by institutional investors.

Broadridge Financial Solutions, Inc. (NYSE:BR) opened at $90.17 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.70 and a current ratio of 1.70. Broadridge Financial Solutions, Inc. has a 52 week low of $63.55 and a 52 week high of $91.75. The firm has a market capitalization of $10,504.88, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. The business had revenue of $925.00 million for the quarter, compared to analysts’ expectations of $923.68 million. During the same period last year, the business earned $0.36 EPS. The business’s revenue was up 3.4% on a year-over-year basis. equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 3.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 50.87%.

In other Broadridge Financial Solutions news, insider Richard J. Daly sold 94,039 shares of the firm’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total transaction of $7,706,496.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

A number of equities analysts recently issued reports on BR shares. BidaskClub upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Barclays increased their target price on Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, November 9th. Finally, DA Davidson reiterated a “hold” rating and issued a $86.00 target price on shares of Broadridge Financial Solutions in a report on Thursday, November 9th.

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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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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