Power Corp of Canada Buys Shares of 1,101 Broadridge Financial Solutions, Inc. (NYSE:BR)

Power Corp of Canada purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,101 shares of the business services provider’s stock, valued at approximately $159,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dark Forest Capital Management LP acquired a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Broadridge Financial Solutions during the 3rd quarter worth $29,000. Lumature Wealth Partners LLC grew its stake in Broadridge Financial Solutions by 82.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 365 shares of the business services provider’s stock worth $57,000 after buying an additional 165 shares during the last quarter. Chilton Capital Management LLC bought a new position in Broadridge Financial Solutions during the 2nd quarter worth $53,000. Finally, Itau Unibanco Holding S.A. bought a new position in Broadridge Financial Solutions during the 3rd quarter worth $54,000. 86.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 1,425 shares of the firm’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 completion of the transaction, the director now owns 6,275 shares of the company’s stock, valued at $885,151.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on BR shares. StockNews.com started coverage on Broadridge Financial Solutions in a research note on Thursday. They set a “hold” rating for the company. Wolfe Research lowered their price objective on Broadridge Financial Solutions from $137.00 to $135.00 in a research note on Thursday, January 5th. Morgan Stanley started coverage on Broadridge Financial Solutions in a research note on Wednesday, December 14th. They issued an “equal weight” rating and a $160.00 price target for the company. Raymond James increased their price target on Broadridge Financial Solutions from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Finally, TheStreet raised Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd.

Broadridge Financial Solutions Trading Down 0.6 %

NYSE:BR opened at $136.15 on Thursday. Broadridge Financial Solutions, Inc. has a 1 year low of $131.35 and a 1 year high of $183.33. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 30.39 and a beta of 0.97. The business has a fifty day moving average of $144.25 and a 200-day moving average of $146.44. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.26 and a current ratio of 1.26.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last announced its earnings results on Thursday, February 2nd. The business services provider reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. Broadridge Financial Solutions had a return on equity of 40.38% and a net margin of 9.13%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business posted $0.83 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 6.91 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be paid a dividend of $0.725 per share. The ex-dividend date is Tuesday, March 14th. This represents a $2.90 annualized dividend and a yield of 2.13%. Broadridge Financial Solutions’s dividend payout ratio is currently 64.73%.

Broadridge Financial Solutions Company Profile

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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.