Broadridge Financial Solutions, Inc. (NYSE:BR) – Equities researchers at DA Davidson dropped their Q2 2019 earnings estimates for shares of Broadridge Financial Solutions in a note issued to investors on Tuesday, November 6th. DA Davidson analyst P. Heckmann now anticipates that the business services provider will post earnings of $0.69 per share for the quarter, down from their prior estimate of $0.71.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.11. Broadridge Financial Solutions had a return on equity of 46.83% and a net margin of 10.39%. The company had revenue of $973.00 million for the quarter, compared to analyst estimates of $970.19 million. During the same quarter in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year.
Shares of BR opened at $107.21 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.28 and a current ratio of 1.69. The firm has a market capitalization of $12.69 billion, a P/E ratio of 25.59, a PEG ratio of 2.32 and a beta of 0.95. Broadridge Financial Solutions has a twelve month low of $86.80 and a twelve month high of $138.24.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 46.30%.
In related news, CEO Richard J. Daly sold 67,974 shares of the stock in a transaction on Friday, October 5th. The stock was sold at an average price of $126.61, for a total value of $8,606,188.14. Following the transaction, the chief executive officer now directly owns 233,673 shares of the company’s stock, valued at approximately $29,585,338.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Daly sold 210,188 shares of the stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $132.14, for a total value of $27,774,242.32. Following the completion of the transaction, the chief executive officer now directly owns 387,336 shares in the company, valued at $51,182,579.04. The disclosure for this sale can be found here. Insiders sold a total of 325,354 shares of company stock worth $42,709,350 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. IFM Investors Pty Ltd acquired a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $410,000. State of Alaska Department of Revenue increased its holdings in Broadridge Financial Solutions by 58.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 29,315 shares of the business services provider’s stock valued at $3,374,000 after purchasing an additional 10,800 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in Broadridge Financial Solutions by 4.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 13,066 shares of the business services provider’s stock valued at $1,504,000 after purchasing an additional 538 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in Broadridge Financial Solutions by 35.1% in the 2nd quarter. Gateway Investment Advisers LLC now owns 153,308 shares of the business services provider’s stock valued at $17,646,000 after purchasing an additional 39,847 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. increased its holdings in Broadridge Financial Solutions by 46.1% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 16,942 shares of the business services provider’s stock valued at $1,951,000 after purchasing an additional 5,347 shares in the last quarter. 84.55% of the stock is currently owned by institutional investors and hedge funds.
Broadridge Financial Solutions Company 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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