Dimensional Fund Advisors LP increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 553,304 shares of the business services provider’s stock after purchasing an additional 3,986 shares during the period. Dimensional Fund Advisors LP’s holdings in Broadridge Financial Solutions were worth $44,717,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of BR. Schwab Charles Investment Management Inc. boosted its position in shares of Broadridge Financial Solutions by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 372,959 shares of the business services provider’s stock valued at $28,181,000 after acquiring an additional 14,416 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Broadridge Financial Solutions by 2.4% during the 2nd quarter. American Century Companies Inc. now owns 23,050 shares of the business services provider’s stock valued at $1,742,000 after acquiring an additional 531 shares during the last quarter. Airain ltd bought a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $204,000. Commerce Bank lifted its position in Broadridge Financial Solutions by 6.2% in the 2nd quarter. Commerce Bank now owns 3,819 shares of the business services provider’s stock worth $289,000 after buying an additional 222 shares during the last quarter. Finally, Fiduciary Trust Co. bought a new stake in Broadridge Financial Solutions in the 2nd quarter worth approximately $212,000. Institutional investors and hedge funds own 83.48% of the company’s stock.
Shares of Broadridge Financial Solutions, Inc. (NYSE BR) opened at $93.13 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 1 year low of $65.22 and a 1 year high of $93.66. The firm has a market capitalization of $10,850.00, a P/E ratio of 32.56, a P/E/G ratio of 2.49 and a beta of 0.99.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th were given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Thursday, December 14th. Broadridge Financial Solutions’s payout ratio is 51.05%.
In other 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 value of $7,706,496.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schifellite sold 49,181 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $89.47, for a total value of $4,400,224.07. Following the completion of the sale, the insider now directly owns 149,181 shares of the company’s stock, valued at approximately $13,347,224.07. The disclosure for this sale can be found here. Insiders have sold 150,875 shares of company stock valued at $12,784,264 in the last quarter. 2.60% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on BR. DA Davidson restated a “hold” rating and issued a $86.00 target price on shares of Broadridge Financial Solutions in a research report on Thursday, November 9th. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Barclays reaffirmed a “hold” rating and issued a $95.00 price target on shares of Broadridge Financial Solutions in a research note on Friday, December 8th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. Five analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $90.50.
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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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