Thrivent Financial for Lutherans grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 22.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,121 shares of the business services provider’s stock after acquiring an additional 1,121 shares during the period. Thrivent Financial for Lutherans’ holdings in Broadridge Financial Solutions were worth $821,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of BR. Asset Dedication LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $31,000. MV Capital Management Inc. lifted its position in Broadridge Financial Solutions by 33.0% in the 4th quarter. MV Capital Management Inc. now owns 290 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 72 shares in the last quarter. General Partner Inc. bought a new stake in Broadridge Financial Solutions during the 4th quarter worth about $45,000. Itau Unibanco Holding S.A. bought a new stake in Broadridge Financial Solutions during the 3rd quarter worth about $54,000. Finally, Altshuler Shaham Ltd raised its holdings in shares of Broadridge Financial Solutions by 92.5% in the 3rd quarter. Altshuler Shaham Ltd now owns 385 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 86.45% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on BR. Royal Bank of Canada initiated coverage on shares of Broadridge Financial Solutions in a report on Monday, April 24th. They issued an “outperform” rating and a $169.00 target price on the stock. TheStreet raised shares of Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd. StockNews.com initiated coverage on shares of Broadridge Financial Solutions in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, Raymond James increased their price objective 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. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of “Moderate Buy” and a consensus target price of $161.40.
Broadridge Financial Solutions Price Performance
Broadridge Financial Solutions (NYSE:BR – Get Rating) last issued its quarterly earnings data 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. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Broadridge Financial Solutions had a net margin of 9.33% and a return on equity of 40.29%. Broadridge Financial Solutions’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.93 earnings per share. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 6.91 EPS for the current fiscal year.
Broadridge Financial Solutions Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders 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 dividend on an annualized basis and a yield of 1.93%. Broadridge Financial Solutions’s dividend payout ratio is presently 62.23%.
Insiders Place Their Bets
In other Broadridge Financial Solutions news, VP Laura Matlin sold 4,052 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $153.73, for a total value of $622,913.96. Following the completion of the transaction, the vice president now owns 5,825 shares of the company’s stock, valued at approximately $895,477.25. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, VP Richard John Stingi sold 750 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $155.27, for a total value of $116,452.50. Following the completion of the sale, the vice president now directly owns 4,202 shares in the company, valued at approximately $652,444.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Laura Matlin sold 4,052 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $153.73, for a total transaction of $622,913.96. Following the completion of the sale, the vice president now owns 5,825 shares of the company’s stock, valued at $895,477.25. The disclosure for this sale can be found here. Insiders sold a total of 21,922 shares of company stock valued at $3,335,277 in the last quarter. Corporate insiders own 1.60% of the company’s stock.
Broadridge Financial Solutions 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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