Schroder Investment Management Group grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 66.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,200 shares of the business services provider’s stock after purchasing an additional 35,600 shares during the quarter. Schroder Investment Management Group’s holdings in Broadridge Financial Solutions were worth $8,079,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of BR. First Trust Advisors LP boosted its stake in Broadridge Financial Solutions by 68.6% in the third quarter. First Trust Advisors LP now owns 279,708 shares of the business services provider’s stock worth $22,606,000 after purchasing an additional 113,768 shares in the last quarter. Aperio Group LLC boosted its stake in Broadridge Financial Solutions by 5.0% in the third quarter. Aperio Group LLC now owns 94,080 shares of the business services provider’s stock worth $7,604,000 after purchasing an additional 4,465 shares in the last quarter. Korea Investment CORP boosted its stake in Broadridge Financial Solutions by 90.3% in the third quarter. Korea Investment CORP now owns 37,100 shares of the business services provider’s stock worth $2,998,000 after purchasing an additional 17,600 shares in the last quarter. First Quadrant L P CA acquired a new position in Broadridge Financial Solutions in the third quarter worth $3,342,000. Finally, Pictet Asset Management Ltd. boosted its stake in Broadridge Financial Solutions by 1.5% in the third quarter. Pictet Asset Management Ltd. now owns 40,900 shares of the business services provider’s stock worth $3,306,000 after purchasing an additional 600 shares in the last quarter. 82.95% of the stock is currently owned by institutional investors.
BR has been the topic of a number of recent analyst reports. Zacks Investment Research raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Wednesday, January 31st. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Raymond James Financial reaffirmed a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. Sandler O’Neill set a $95.00 price target on Broadridge Financial Solutions and gave the company a “hold” rating in a research note on Thursday, February 8th. Finally, Barclays upped their price target on Broadridge Financial Solutions from $74.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $98.75.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.21. Broadridge Financial Solutions had a return on equity of 44.02% and a net margin of 8.74%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $945.80 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. analysts forecast that Broadridge Financial Solutions, Inc. will post 4.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Wednesday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 44.79%.
In related news, Director Richard J. Haviland sold 7,655 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total value of $677,544.05. Following the completion of the sale, the director now owns 44,482 shares in the company, valued at $3,937,101.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam D. Amsterdam sold 19,600 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $99.36, for a total value of $1,947,456.00. The disclosure for this sale can be found here. Insiders have sold 186,275 shares of company stock worth $17,388,737 in the last ninety days. 2.60% of the stock is currently owned by insiders.
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About Broadridge Financial Solutions
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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