Kintegral Advisory LLC cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,777 shares of the business services provider's stock after selling 3,815 shares during the quarter. Kintegral Advisory LLC's holdings in Broadridge Financial Solutions were worth $1,892,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of BR. Curio Wealth LLC bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $45,000. CWA Asset Management Group LLC raised its holdings in shares of Broadridge Financial Solutions by 6.8% during the first quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock valued at $332,000 after acquiring an additional 87 shares during the period. Exchange Traded Concepts LLC grew its position in Broadridge Financial Solutions by 12.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock worth $159,000 after purchasing an additional 72 shares in the last quarter. Brighton Jones LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at $580,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at $25,773,000. Institutional investors and hedge funds own 90.03% of the company's stock.
Wall Street Analyst Weigh In
BR has been the topic of several recent analyst reports. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $250.83.
Get Our Latest Stock Analysis on Broadridge Financial Solutions
Insider Transactions at Broadridge Financial Solutions
In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider directly owned 1,070 shares in the company, valued at $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the sale, the director owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,116 shares of company stock valued at $4,352,298 in the last three months. 1.30% of the stock is currently owned by company insiders.
Broadridge Financial Solutions Stock Performance
Shares of BR stock opened at $242.13 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $198.71 and a fifty-two week high of $247.01. The stock's 50-day moving average is $239.37 and its two-hundred day moving average is $235.55. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $28.44 billion, a P/E ratio of 36.41 and a beta of 0.94.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The firm's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.23 earnings per share. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.
Broadridge Financial Solutions Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's payout ratio is presently 52.93%.
Broadridge Financial Solutions Company Profile
(
Free Report)
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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