Deutsche Bank AG raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 80.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,501,941 shares of the business services provider’s stock after purchasing an additional 668,709 shares during the period. Deutsche Bank AG owned about 1.30% of Broadridge Financial Solutions worth $144,559,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of BR. Whittier Trust Co. lifted its position in Broadridge Financial Solutions by 117.3% during the fourth quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock worth $28,000 after buying an additional 156 shares during the period. Pinnacle Bank purchased a new position in Broadridge Financial Solutions during the fourth quarter worth about $34,000. 1832 Asset Management L.P. purchased a new position in Broadridge Financial Solutions during the fourth quarter worth about $39,000. Capital Financial Planning LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter worth about $39,000. Finally, CX Institutional purchased a new position in Broadridge Financial Solutions during the fourth quarter worth about $41,000. 84.14% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on BR. Zacks Investment Research upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Raymond James upgraded Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a research report on Wednesday, March 13th. Rosenblatt Securities began coverage on Broadridge Financial Solutions in a research report on Wednesday, December 5th. They set a “neutral” rating and a $110.00 target price on the stock. SunTrust Banks reiterated a “buy” rating and set a $110.00 target price on shares of Broadridge Financial Solutions in a research report on Sunday, January 6th. Finally, DA Davidson upgraded Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Friday, February 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Broadridge Financial Solutions currently has an average rating of “Buy” and an average target price of $118.67.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, February 7th. The business services provider reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.15). The firm had revenue of $953.40 million during the quarter, compared to analysts’ expectations of $967.21 million. Broadridge Financial Solutions had a return on equity of 43.95% and a net margin of 10.25%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 4.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th will be issued a $0.485 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.85%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 46.30%.
In other news, Director Alan J. Weber sold 1,980 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $100.36, for a total value of $198,712.80. Following the transaction, the director now directly owns 51,588 shares in the company, valued at approximately $5,177,371.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.
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Broadridge Financial Solutions Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.
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