Daiwa Securities Group Inc. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,500 shares of the business services provider’s stock after buying an additional 740 shares during the period. Daiwa Securities Group Inc.’s holdings in Broadridge Financial Solutions were worth $3,189,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BR. OFI Invest Asset Management purchased a new stake in Broadridge Financial Solutions in the 3rd quarter valued at approximately $25,000. Money Concepts Capital Corp lifted its stake in Broadridge Financial Solutions by 400.0% in the 4th quarter. Money Concepts Capital Corp now owns 195 shares of the business services provider’s stock valued at $26,000 after buying an additional 156 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth $27,000. Headinvest LLC purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth $32,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 90.03% of the company’s stock.
Wall Street Analysts Forecast Growth
BR has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Raymond James upped their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Evercore ISI restated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.67.
Get Our Latest Stock Analysis on BR
Insider Buying and Selling
In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares in the company, valued at approximately $2,674,169.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the transaction, the insider now owns 32,480 shares in the company, valued at approximately $6,648,980.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,483 shares of company stock valued at $9,745,637. Company insiders own 1.60% of the company’s stock.
Broadridge Financial Solutions Price Performance
NYSE BR opened at $193.38 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $139.52 and a 12 month high of $210.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $22.77 billion, a PE ratio of 33.69 and a beta of 0.99. The company’s 50 day simple moving average is $200.73 and its 200 day simple moving average is $194.13.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.
Broadridge Financial Solutions Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is 55.75%.
Broadridge Financial Solutions Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company’s Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.
Further Reading
Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report).
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