Hutchens Investment Management Inc Acquires Shares of 2,500 Broadridge Financial Solutions, Inc. (BR)

Hutchens Investment Management Inc acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,500 shares of the business services provider’s stock, valued at approximately $226,000.

Other institutional investors have also recently modified their holdings of the company. DnB Asset Management AS grew its position in Broadridge Financial Solutions by 14.7% in the fourth quarter. DnB Asset Management AS now owns 29,623 shares of the business services provider’s stock worth $2,683,000 after acquiring an additional 3,800 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Broadridge Financial Solutions by 2.7% in the third quarter. Parametric Portfolio Associates LLC now owns 285,100 shares of the business services provider’s stock worth $23,042,000 after acquiring an additional 7,621 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Broadridge Financial Solutions in the third quarter worth about $478,000. Griffin Asset Management Inc. purchased a new position in Broadridge Financial Solutions in the third quarter worth about $1,171,000. Finally, California Public Employees Retirement System grew its position in Broadridge Financial Solutions by 5.8% in the third quarter. California Public Employees Retirement System now owns 257,198 shares of the business services provider’s stock worth $20,787,000 after acquiring an additional 14,098 shares in the last quarter. Hedge funds and other institutional investors own 83.48% of the company’s stock.

Shares of Broadridge Financial Solutions, Inc. (BR) traded up $0.18 during trading hours on Wednesday, hitting $93.31. The company’s stock had a trading volume of 451,800 shares, compared to its average volume of 414,183. Broadridge Financial Solutions, Inc. has a fifty-two week low of $65.22 and a fifty-two week high of $93.83. The stock has a market capitalization of $10,880.00, a price-to-earnings ratio of 32.63, a PEG ratio of 2.49 and a beta of 0.99. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.25.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $923.68 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. analysts expect that Broadridge Financial Solutions, Inc. will post 3.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th were given a dividend of $0.365 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.46 annualized dividend and a dividend yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 51.05%.

In other news, insider Robert Schifellite sold 49,181 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $89.47, for a total transaction of $4,400,224.07. Following the completion of the sale, the insider now owns 149,181 shares of the company’s stock, valued at $13,347,224.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Haviland sold 7,655 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total transaction of $677,544.05. Following the sale, the director now directly owns 44,482 shares of the company’s stock, valued at approximately $3,937,101.82. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

BR has been the subject of several recent research reports. Barclays lifted their price target on Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. Raymond James Financial restated a “hold” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. Zacks Investment Research lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, DA Davidson restated a “hold” rating and set a $86.00 target price on shares of Broadridge Financial Solutions in a research report on Thursday, November 9th. Six analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $90.50.

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Broadridge Financial Solutions 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.

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

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