Newfound Research LLC trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 40.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 508 shares of the business services provider’s stock after selling 347 shares during the period. Newfound Research LLC’s holdings in Broadridge Financial Solutions were worth $78,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Eudaimonia Partners LLC grew its stake in shares of Broadridge Financial Solutions by 52.1% in the third quarter. Eudaimonia Partners LLC now owns 1,465 shares of the business services provider’s stock worth $193,000 after purchasing an additional 502 shares in the last quarter. Brinker Capital Investments LLC acquired a new position in Broadridge Financial Solutions in the 3rd quarter worth about $3,912,000. Van ECK Associates Corp increased its position in Broadridge Financial Solutions by 13.0% in the 3rd quarter. Van ECK Associates Corp now owns 7,883 shares of the business services provider’s stock worth $1,041,000 after purchasing an additional 907 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Broadridge Financial Solutions by 156.1% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 6,694 shares of the business services provider’s stock worth $884,000 after purchasing an additional 4,080 shares during the last quarter. Finally, Private Trust Co. NA increased its position in Broadridge Financial Solutions by 27.7% in the 4th quarter. Private Trust Co. NA now owns 6,488 shares of the business services provider’s stock worth $993,000 after purchasing an additional 1,408 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.
In related news, Director Robert N. Duelks sold 3,699 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $144.83, for a total transaction of $535,726.17. Following the completion of the transaction, the director now owns 34,266 shares in the company, valued at approximately $4,962,744.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Adam D. Amsterdam sold 20,936 shares of the firm’s stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $148.49, for a total value of $3,108,786.64. Following the transaction, the vice president now owns 21,400 shares of the company’s stock, valued at approximately $3,177,686. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Shares of BR stock traded up $1.07 during mid-day trading on Tuesday, reaching $161.05. The stock had a trading volume of 7,923 shares, compared to its average volume of 568,101. The firm’s 50 day simple moving average is $154.71 and its 200 day simple moving average is $148.95. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.26. Broadridge Financial Solutions, Inc. has a one year low of $110.74 and a one year high of $163.43. The firm has a market cap of $18.65 billion, a PE ratio of 39.50 and a beta of 0.83.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, May 4th. The business services provider reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.09. Broadridge Financial Solutions had a return on equity of 48.98% and a net margin of 10.27%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $1.67 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 5.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 2nd. Shareholders of record on Monday, March 15th were given a $0.575 dividend. The ex-dividend date was Friday, March 12th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.43%. Broadridge Financial Solutions’s dividend payout ratio is currently 45.73%.
About Broadridge Financial Solutions
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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