Rhumbline Advisers Has $25.39 Million Stake in Broadridge Financial Solutions, Inc. (BR)
Rhumbline Advisers lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 314,195 shares of the business services provider’s stock after buying an additional 29,934 shares during the period. Rhumbline Advisers owned about 0.27% of Broadridge Financial Solutions worth $25,393,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ETF Managers Group LLC bought a new position in Broadridge Financial Solutions during the second quarter valued at approximately $144,000. Acrospire Investment Management LLC bought a new position in Broadridge Financial Solutions during the second quarter valued at approximately $108,000. Toronto Dominion Bank lifted its position in Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 149 shares during the period. Global X Management Co. LLC lifted its position in Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 120 shares during the period. Finally, Advisory Services Network LLC lifted its position in Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 706 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.
Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) opened at $89.25 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $63.28 and a twelve month high of $91.75. The company has a market cap of $10,402.27, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 2.40 and a beta of 0.99. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.25.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, November 8th. The business services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.12. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The business had revenue of $925.00 million during the quarter, compared to analysts’ expectations of $923.68 million. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. equities research analysts predict that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.365 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio is currently 50.87%.
In other news, insider Adam D. Amsterdam sold 17,813 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total value of $1,370,888.48. Following the completion of the sale, the insider now directly owns 20,646 shares of the company’s stock, valued at $1,588,916.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard J. Daly sold 94,039 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total transaction of $7,706,496.05. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.
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A number of research analysts recently weighed in on the stock. DA Davidson restated a “hold” rating and set a $86.00 price objective on shares of Broadridge Financial Solutions in a research report on Thursday, November 9th. BidaskClub cut shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Barclays PLC upped their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Finally, ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th.
Broadridge Financial Solutions 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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