Middleton & Co Inc MA lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 75,004 shares of the business services provider’s stock after selling 1,285 shares during the period. Broadridge Financial Solutions accounts for about 1.5% of Middleton & Co Inc MA’s holdings, making the stock its 25th biggest holding. Middleton & Co Inc MA’s holdings in Broadridge Financial Solutions were worth $9,577,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BR. Janus Henderson Group PLC raised its holdings in Broadridge Financial Solutions by 17.7% during the first quarter. Janus Henderson Group PLC now owns 7,824,319 shares of the business services provider’s stock worth $811,304,000 after acquiring an additional 1,177,867 shares in the last quarter. Jensen Investment Management Inc. raised its holdings in Broadridge Financial Solutions by 8,174.4% during the first quarter. Jensen Investment Management Inc. now owns 843,157 shares of the business services provider’s stock worth $87,427,000 after acquiring an additional 832,967 shares in the last quarter. USS Investment Management Ltd bought a new stake in Broadridge Financial Solutions in the second quarter valued at approximately $87,343,000. Tesco Pension Investment Ltd bought a new stake in Broadridge Financial Solutions in the first quarter valued at approximately $63,974,000. Finally, FMR LLC raised its stake in Broadridge Financial Solutions by 296.2% in the first quarter. FMR LLC now owns 750,883 shares of the business services provider’s stock valued at $77,860,000 after buying an additional 561,363 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.
In other news, VP Laura Matlin sold 3,875 shares of the company’s stock in a transaction that occurred 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 owns 5,988 shares of the company’s stock, valued at $712,512.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert F. Kalenka sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $132.58, for a total value of $1,060,640.00. Following the completion of the transaction, the insider now directly owns 28,986 shares in the company, valued at approximately $3,842,963.88. The disclosure for this sale can be found here. Insiders sold 190,149 shares of company stock worth $23,659,712 in the last ninety days. 2.30% of the stock is owned by company insiders.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $1.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.72. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 5.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be given a $0.54 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.16 annualized dividend and a dividend yield of 1.73%.
BR has been the topic of several research analyst reports. Raymond James lowered Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research note on Friday, May 10th. ValuEngine lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. SunTrust Banks upped their price objective on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, DA Davidson lowered Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 price objective on the stock. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $129.33.
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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