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US Bancorp DE Sells 2,946 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Broadridge Financial Solutions logo with Computer and Technology background

Key Points

  • US Bancorp DE decreased its holdings in Broadridge Financial Solutions by 5.3%, selling 2,946 shares during the quarter, leaving it with 52,495 shares valued at approximately $12.7 million.
  • Several large investors, including Price T Rowe Associates and Principal Financial Group, significantly increased their positions in Broadridge, indicating strong institutional interest.
  • Broadridge reported a quarterly earnings per share of $2.44, surpassing analysts' expectations, and announced a quarterly dividend of $0.88, with a dividend yield of 1.4%.
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US Bancorp DE decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,495 shares of the business services provider's stock after selling 2,946 shares during the period. US Bancorp DE's holdings in Broadridge Financial Solutions were worth $12,729,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $580,000. Wellington Management Group LLP boosted its position in Broadridge Financial Solutions by 28.4% during the fourth quarter. Wellington Management Group LLP now owns 4,636 shares of the business services provider's stock worth $1,048,000 after purchasing an additional 1,026 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $8,634,000. Dynamic Technology Lab Private Ltd bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $337,000. Finally, Envestnet Asset Management Inc. boosted its position in Broadridge Financial Solutions by 12.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 714,545 shares of the business services provider's stock worth $161,552,000 after purchasing an additional 81,737 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 3,607 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the transaction, the vice president directly owned 6,077 shares of the company's stock, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director directly owned 7,242 shares in the company, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,048 shares of company stock valued at $4,101,083. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

BR has been the subject of several research reports. Needham & Company LLC raised their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Morgan Stanley raised their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Five equities research 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 presently has a consensus rating of "Hold" and an average target price of $258.17.

Check Out Our Latest Report on BR

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded down $1.58 on Thursday, hitting $265.31. The company's stock had a trading volume of 850,057 shares, compared to its average volume of 582,796. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.32 and a current ratio of 0.98. The stock's 50 day moving average is $242.67 and its 200-day moving average is $238.48. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.29 and a fifty-two week high of $271.91. The company has a market capitalization of $31.16 billion, a PE ratio of 37.41 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 EPS for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter last year, the business earned $3.50 earnings per share. Broadridge Financial Solutions's revenue was up 6.2% on a year-over-year basis. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Thursday, September 11th. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.5%. Broadridge Financial Solutions's payout ratio is 55.01%.

About Broadridge Financial Solutions

(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

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

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