According to Zacks, “Broadridge is a leading global provider of technology-based outsourcing solutions to the financial services industry. Their integrated systems and services include investor communication, securities processing, and clearing and outsourcing solutions. Broadridge offers a broad, integrated suite of innovative global solutions across the investment lifecycle and provides a wide range of cost-effective and scalable solutions to the financial industry. Their systems help reduce the need for clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities. “
Shares of Broadridge Financial Solutions (NYSE:BR) opened at 68.48 on Wednesday. The firm’s 50-day moving average price is $68.49 and its 200-day moving average price is $66.78. Broadridge Financial Solutions has a 12-month low of $56.40 and a 12-month high of $71.74. The firm has a market capitalization of $8.10 billion, a P/E ratio of 28.04 and a beta of 1.07.
Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, February 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Broadridge Financial Solutions had a net margin of 8.62% and a return on equity of 33.76%. The business earned $893 million during the quarter, compared to the consensus estimate of $940.07 million. During the same period last year, the business posted $0.38 EPS. Broadridge Financial Solutions’s revenue was up 39.7% on a year-over-year basis. Equities analysts predict that Broadridge Financial Solutions will post $3.11 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Tuesday, March 14th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, March 10th. This represents a $1.32 annualized dividend and a dividend yield of 1.93%. Broadridge Financial Solutions’s dividend payout ratio is presently 53.88%.
In other news, insider Robert F. Kalenka sold 40,639 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $68.34, for a total transaction of $2,777,269.26. Following the transaction, the insider now directly owns 61,519 shares of the company’s stock, valued at $4,204,208.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Schifellite sold 68,122 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $68.56, for a total transaction of $4,670,444.32. Following the transaction, the insider now directly owns 107,854 shares in the company, valued at $7,394,470.24. The disclosure for this sale can be found here. Insiders have sold 261,851 shares of company stock worth $18,077,337 over the last ninety days. Insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Broadridge Financial Solutions by 0.8% in the fourth quarter. Van ECK Associates Corp now owns 1,679 shares of the company’s stock valued at $111,000 after buying an additional 14 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in shares of Broadridge Financial Solutions by 1.2% in the third quarter. Integrated Investment Consultants LLC now owns 2,150 shares of the company’s stock valued at $140,000 after buying an additional 25 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 97.2% in the third quarter. Penserra Capital Management LLC now owns 2,378 shares of the company’s stock valued at $160,000 after buying an additional 1,172 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Broadridge Financial Solutions by 17.5% in the second quarter. IFP Advisors Inc now owns 2,649 shares of the company’s stock valued at $173,000 after buying an additional 395 shares in the last quarter. Finally, FineMark National Bank & Trust boosted its position in shares of Broadridge Financial Solutions by 72.0% in the third quarter. FineMark National Bank & Trust now owns 2,569 shares of the company’s stock valued at $174,000 after buying an additional 1,075 shares in the last quarter. 83.30% of the stock is currently owned by institutional investors.
About Broadridge Financial Solutions
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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