UBS Group AG grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 71.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,004 shares of the business services provider’s stock after purchasing an additional 65,961 shares during the quarter. UBS Group AG owned approximately 0.13% of Broadridge Financial Solutions worth $21,193,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Asset Dedication LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $31,000. MV Capital Management Inc. increased its position in Broadridge Financial Solutions by 33.0% during the fourth quarter. MV Capital Management Inc. now owns 290 shares of the business services provider’s stock worth $39,000 after acquiring an additional 72 shares during the period. General Partner Inc. bought a new position in Broadridge Financial Solutions during the fourth quarter worth $45,000. Lumature Wealth Partners LLC increased its position in Broadridge Financial Solutions by 82.5% during the first quarter. Lumature Wealth Partners LLC now owns 365 shares of the business services provider’s stock worth $57,000 after acquiring an additional 165 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in Broadridge Financial Solutions during the third quarter worth $54,000. Institutional investors own 86.45% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on BR shares. StockNews.com started coverage on shares of Broadridge Financial Solutions in a research report on Thursday. They set a “hold” rating on the stock. Raymond James boosted their target price on shares of Broadridge Financial Solutions from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. TheStreet upgraded shares of Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd. Finally, Royal Bank of Canada assumed coverage on shares of Broadridge Financial Solutions in a research note on Monday, April 24th. They set an “outperform” rating and a $169.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.40.
Broadridge Financial Solutions Stock Up 0.9 %
Broadridge Financial Solutions (NYSE:BR – Get Rating) last issued its earnings results on Tuesday, May 2nd. The business services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $2.01 by $0.04. Broadridge Financial Solutions had a net margin of 9.33% and a return on equity of 40.29%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company earned $1.93 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 6.91 EPS for the current year.
Broadridge Financial Solutions Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be paid a $0.725 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $2.90 annualized dividend and a dividend yield of 1.88%. Broadridge Financial Solutions’s dividend payout ratio is presently 62.23%.
In other news, Director Robert N. Duelks sold 1,425 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $141.06, for a total value of $201,010.50. Following the sale, the director now owns 6,275 shares in the company, valued at approximately $885,151.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Robert Schifellite sold 15,695 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $152.59, for a total transaction of $2,394,900.05. Following the transaction, the senior vice president now owns 50,314 shares in the company, valued at approximately $7,677,413.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert N. Duelks sold 1,425 shares of the company’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $141.06, for a total transaction of $201,010.50. Following the transaction, the director now owns 6,275 shares in the company, valued at approximately $885,151.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,870 shares of company stock worth $2,712,363. Corporate insiders own 1.60% of the company’s stock.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.
- Get a free copy of the StockNews.com research report on Broadridge Financial Solutions (BR)
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