OLD National Bancorp IN purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,022 shares of the business services provider’s stock, valued at approximately $313,000.
Several other large investors also recently bought and sold shares of the business. Whittier Trust Co. boosted its stake 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 worth $28,000 after acquiring an additional 156 shares during the period. Pinnacle Bank bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $34,000. 1832 Asset Management L.P. bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $39,000. Capital Financial Planning LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $39,000. Finally, CX Institutional bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $41,000. 84.80% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Thomas P. Carey sold 1,215 shares of the business’s stock in a transaction on 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 owns 4,202 shares of the company’s stock, valued at approximately $457,261.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Laura Matlin sold 3,875 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $118.99, for a total value of $461,086.25. Following the transaction, the vice president now directly owns 5,988 shares of the company’s stock, valued at approximately $712,512.12. The disclosure for this sale can be found here. Insiders have sold a total of 7,070 shares of company stock valued at $792,015 in the last three months. 2.30% of the stock is owned by insiders.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, May 7th. The business services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.10. Broadridge Financial Solutions had a return on equity of 48.71% and a net margin of 11.31%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. Broadridge Financial Solutions’s revenue was up 14.3% on a year-over-year basis. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 4.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.58%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 46.30%.
Several research firms recently issued reports on BR. Zacks Investment Research downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. DA Davidson downgraded Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 price target for the company. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday. Raymond James upgraded Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a research note on Wednesday, March 13th. Finally, SunTrust Banks boosted their price target on Broadridge Financial Solutions to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Broadridge Financial Solutions has an average rating of “Buy” and an average price target of $124.50.
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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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