US Bancorp DE reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,571 shares of the business services provider's stock after selling 1,924 shares during the quarter. US Bancorp DE's holdings in Broadridge Financial Solutions were worth $12,291,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. ORG Partners LLC increased its holdings in Broadridge Financial Solutions by 360.0% during the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider's stock worth $28,000 after purchasing an additional 90 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the first quarter worth $29,000. Continuum Advisory LLC raised its position in Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after buying an additional 46 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in Broadridge Financial Solutions by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider's stock valued at $35,000 after acquiring an additional 117 shares in the last quarter. Finally, Olde Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the 1st quarter worth $36,000. Institutional investors and hedge funds own 90.03% of the company's stock.
Broadridge Financial Solutions Trading Down 0.6%
NYSE:BR opened at $232.81 on Friday. The company has a market cap of $27.17 billion, a P/E ratio of 32.84 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 1 year low of $208.20 and a 1 year high of $271.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. The stock's fifty day moving average price is $250.05 and its two-hundred day moving average price is $242.56.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The firm had revenue of $1.05 billion for the quarter. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.
Broadridge Financial Solutions Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were paid a dividend of $0.975 per share. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio is 55.01%.
Analysts Set New Price Targets
Several research analysts recently weighed in on BR shares. UBS Group boosted their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Needham & Company LLC boosted their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Broadridge Financial Solutions in a report on Wednesday. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Finally, Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $261.50.
View Our Latest Stock Report on BR
Insider Activity
In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the sale, the chief executive officer owned 143,285 shares of the company's stock, valued at $37,020,545.45. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president owned 48,813 shares of the company's stock, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,532 shares of company stock worth $38,417,208. Insiders own 1.10% of the company's stock.
Broadridge Financial Solutions Company Profile
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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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