Amundi Pioneer Asset Management Inc. cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 15.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,403 shares of the business services provider’s stock after selling 20,635 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.10% of Broadridge Financial Solutions worth $10,722,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Whittier Trust Co. raised its position in shares of Broadridge Financial Solutions by 117.3% during the 4th quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock valued at $28,000 after buying an additional 156 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Broadridge Financial Solutions in the 4th quarter worth $39,000. CX Institutional purchased a new position in Broadridge Financial Solutions in the 4th quarter worth $41,000. Oregon Public Employees Retirement Fund raised its position in Broadridge Financial Solutions by 8,044.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,178,116 shares of the business services provider’s stock worth $43,000 after purchasing an additional 4,126,816 shares during the period. Finally, Laurel Wealth Advisors LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter worth $52,000. 84.26% of the stock is owned by institutional investors.
In other Broadridge Financial Solutions news, Director Alan J. Weber sold 1,980 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total value of $198,712.80. Following the completion of the transaction, the director now directly owns 51,588 shares of the company’s stock, valued at $5,177,371.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas P. Carey sold 1,215 shares of Broadridge Financial Solutions stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $108.82, for a total transaction of $132,216.30. Following the completion of the transaction, the vice president now directly owns 4,202 shares of the company’s stock, valued at $457,261.64. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
Broadridge Financial Solutions stock traded down $1.21 during trading hours on Friday, reaching $112.79. The stock had a trading volume of 836,371 shares, compared to its average volume of 981,449. The firm has a market cap of $13.05 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84. Broadridge Financial Solutions, Inc. has a 52 week low of $91.34 and a 52 week high of $138.24. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.06.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, February 7th. The business services provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.15). The company had revenue of $953.40 million for the quarter, compared to the consensus estimate of $967.21 million. Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 EPS. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 4.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th were issued a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 1.72%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.30%.
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Broadridge Financial Solutions 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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