Bp Plc acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, Holdings Channel reports. The fund acquired 14,000 shares of the business services provider’s stock, valued at approximately $1,269,000.
Several other hedge funds have also modified their holdings of BR. Toronto Dominion Bank lifted its stake in shares of Broadridge Financial Solutions by 11.4% during the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after buying an additional 149 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Broadridge Financial Solutions by 82.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after buying an additional 706 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $204,000. Aureus Asset Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at $209,000. Finally, Court Place Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $210,000. 83.83% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Robert Schifellite sold 49,181 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $89.47, for a total value of $4,400,224.07. Following the sale, the insider now directly owns 149,181 shares in the company, valued at approximately $13,347,224.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard J. Haviland sold 7,655 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total transaction of $677,544.05. Following the completion of the sale, the director now owns 44,482 shares in the company, valued at $3,937,101.82. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.58 by $0.21. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $945.80 million. Broadridge Financial Solutions had a net margin of 8.74% and a return on equity of 44.02%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. equities analysts forecast that Broadridge Financial Solutions, Inc. will post 4.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 15th will be paid a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, March 14th. Broadridge Financial Solutions’s payout ratio is currently 46.50%.
BR has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Broadridge Financial Solutions from $74.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. Raymond James Financial restated a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. Zacks Investment Research cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, DA Davidson restated a “hold” rating and set a $86.00 target price on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $97.25.
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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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