Clarkston Capital Partners LLC raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.4% during the 1st quarter, Holdings Channel reports. The firm owned 649,285 shares of the business services provider’s stock after acquiring an additional 21,115 shares during the quarter. Broadridge Financial Solutions accounts for approximately 2.2% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 15th biggest position. Clarkston Capital Partners LLC’s holdings in Broadridge Financial Solutions were worth $67,324,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of BR. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Broadridge Financial Solutions by 586.4% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 134,740 shares of the business services provider’s stock worth $13,971,000 after buying an additional 115,109 shares during the last quarter. Vision Capital Management Inc. raised its holdings in Broadridge Financial Solutions by 11.8% during the fourth quarter. Vision Capital Management Inc. now owns 51,652 shares of the business services provider’s stock valued at $4,972,000 after acquiring an additional 5,462 shares during the period. CX Institutional bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at about $41,000. Nuveen Asset Management LLC raised its holdings in Broadridge Financial Solutions by 21.4% during the fourth quarter. Nuveen Asset Management LLC now owns 243,934 shares of the business services provider’s stock valued at $23,479,000 after acquiring an additional 43,023 shares during the period. Finally, Eukles Asset Management bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at about $241,000. Institutional investors and hedge funds own 84.26% of the company’s stock.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Monday. Raymond James upgraded Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a research report on Wednesday, March 13th. SunTrust Banks restated a “buy” rating and set a $110.00 price objective on shares of Broadridge Financial Solutions in a research report on Sunday, January 6th. Finally, DA Davidson upgraded Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Friday, February 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Broadridge Financial Solutions presently has a consensus rating of “Buy” and an average target price of $117.67.
Shares of Broadridge Financial Solutions stock traded up $0.31 during trading on Monday, reaching $113.10. 7,367 shares of the stock traded hands, compared to its average volume of 981,449. The firm has a market cap of $13.05 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.44 and a beta of 0.84. 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, Inc. has a 52-week low of $91.34 and a 52-week high of $138.24.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, February 7th. The business services provider reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.15). The firm had revenue of $953.40 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned $0.79 EPS. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 4.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.72%. Broadridge Financial Solutions’s payout ratio is 46.30%.
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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