Garrison Financial Corp Sells 1,555 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)
Garrison Financial Corp cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.9% during the second quarter, Holdings Channel reports. The institutional investor owned 52,991 shares of the business services provider’s stock after selling 1,555 shares during the period. Broadridge Financial Solutions accounts for about 2.3% of Garrison Financial Corp’s holdings, making the stock its 12th largest position. Garrison Financial Corp’s holdings in Broadridge Financial Solutions were worth $4,004,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BR. BlackRock Inc. raised its position in Broadridge Financial Solutions by 5,792.7% in the first quarter. BlackRock Inc. now owns 12,054,537 shares of the business services provider’s stock worth $819,107,000 after buying an additional 11,849,968 shares during the period. Vanguard Group Inc. raised its position in Broadridge Financial Solutions by 3.8% in the first quarter. Vanguard Group Inc. now owns 10,101,144 shares of the business services provider’s stock worth $686,373,000 after buying an additional 369,176 shares during the period. Independence Advisors LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth approximately $21,006,000. Scout Investments Inc. purchased a new position in Broadridge Financial Solutions during the first quarter worth approximately $14,727,000. Finally, Baird Financial Group Inc. raised its position in Broadridge Financial Solutions by 53.0% in the first quarter. Baird Financial Group Inc. now owns 646,253 shares of the business services provider’s stock worth $43,913,000 after buying an additional 223,959 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.
Shares of Broadridge Financial Solutions, Inc. (BR) opened at 74.27 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $59.86 and a 12-month high of $78.00. The stock’s 50 day moving average is $75.36 and its 200-day moving average is $71.49. The company has a market capitalization of $8.65 billion, a P/E ratio of 27.51 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.71. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 earnings per share. Analysts anticipate that Broadridge Financial Solutions, Inc. will post $3.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.97%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, September 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 48.35%.
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A number of research analysts have recently commented on the stock. BidaskClub lowered shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Saturday. DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They set a “neutral” rating and a $74.00 price target for the company. Finally, Barclays PLC boosted their price target on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $76.00.
In related news, insider Charles J. Marchesani sold 20,473 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $73.61, for a total transaction of $1,507,017.53. Following the completion of the transaction, the insider now directly owns 32,328 shares of the company’s stock, valued at $2,379,664.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schifellite sold 76,666 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the transaction, the insider now directly owns 105,042 shares of the company’s stock, valued at $7,981,091.16. The disclosure for this sale can be found here. Insiders have sold 323,032 shares of company stock valued at $24,016,648 over the last ninety days. 3.50% of the stock is currently owned by corporate insiders.
Broadridge Financial Solutions Company Profile
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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