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Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Holdings Raised by Allianz Asset Management GmbH

Broadridge Financial Solutions logo with Computer and Technology background

Key Points

  • Allianz Asset Management GmbH increased its stake in Broadridge Financial Solutions by 42.2% in the first quarter, bringing its ownership to 33,780 shares worth approximately $8.19 million.
  • Insider selling trends show Hope M. Jarkowski and Maura A. Markus divested shares, with total insider sales reaching $4.35 million in the last three months.
  • Broadridge Financial Solutions reported a Q1 EPS of $2.44, exceeding analysts' expectations, but revenue fell short at $1.81 billion compared to the estimated $1.86 billion.
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Allianz Asset Management GmbH raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 42.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 33,780 shares of the business services provider's stock after purchasing an additional 10,033 shares during the period. Allianz Asset Management GmbH's holdings in Broadridge Financial Solutions were worth $8,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at about $29,000. Whipplewood Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after buying an additional 131 shares during the period. Continuum Advisory LLC boosted its stake in Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after purchasing an additional 46 shares during the period. Olde Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the 1st quarter valued at about $36,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter valued at about $34,000. Institutional investors own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the sale, the insider directly owned 1,070 shares of the company's stock, valued at $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the sale, the director directly owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock worth $4,352,298 in the last three months. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

BR has been the subject of a number of analyst reports. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price for the company. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $250.83.

Read Our Latest Research Report on BR

Broadridge Financial Solutions Stock Up 0.4%

BR stock opened at $254.05 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $206.29 and a 52 week high of $257.65. The company has a market capitalization of $29.84 billion, a price-to-earnings ratio of 38.20 and a beta of 0.94. The firm's 50-day moving average is $240.60 and its two-hundred day moving average is $237.11. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results 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. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $2.23 EPS. Broadridge Financial Solutions's revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.39%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 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.

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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).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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