Wells Fargo & Company MN Has $93.87 Million Stake in Broadridge Financial Solutions, Inc. (BR)

Wells Fargo & Company MN increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,161,491 shares of the business services provider’s stock after acquiring an additional 7,286 shares during the quarter. Wells Fargo & Company MN owned about 1.00% of Broadridge Financial Solutions worth $93,872,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BR. Dai Ichi Life Insurance Company Ltd purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $229,000. Achmea Investment Management B.V. purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $257,000. JPMorgan Chase & Co. raised its stake in Broadridge Financial Solutions by 16.4% in the third quarter. JPMorgan Chase & Co. now owns 503,464 shares of the business services provider’s stock valued at $40,590,000 after purchasing an additional 71,106 shares in the last quarter. Legal & General Group Plc raised its stake in Broadridge Financial Solutions by 3.9% in the third quarter. Legal & General Group Plc now owns 730,628 shares of the business services provider’s stock valued at $59,050,000 after purchasing an additional 27,302 shares in the last quarter. Finally, Ffcm LLC raised its stake in Broadridge Financial Solutions by 23.6% in the third quarter. Ffcm LLC now owns 5,624 shares of the business services provider’s stock valued at $455,000 after purchasing an additional 1,072 shares in the last quarter. Institutional investors own 83.54% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE:BR) opened at $88.56 on Wednesday. The company has a market cap of $10,509.54, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a one year low of $63.63 and a one year high of $91.75. 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 (NYSE:BR) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $925.00 million for the quarter, compared to the consensus estimate of $923.68 million. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current fiscal year.

The firm also recently declared 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 dividend yield of 1.65%. 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 Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

A number of equities research analysts recently weighed in on BR shares. BidaskClub raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Barclays lifted their price target on shares of Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Raymond James Financial reissued a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday. Finally, DA Davidson reissued a “hold” rating and set a $86.00 price target on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Five analysts have rated the stock with a hold rating, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $85.50.

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Broadridge Financial Solutions Company Profile

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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