Cypress Capital Management LLC Buys New Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Cypress Capital Management LLC bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the first quarter, Holdings Channel reports. The firm bought 13,240 shares of the business services provider’s stock, valued at approximately $2,027,000.

Other large investors have also recently bought and sold shares of the company. RMB Capital Management LLC grew its holdings in Broadridge Financial Solutions by 4.2% during the fourth quarter. RMB Capital Management LLC now owns 1,747 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 70 shares during the period. Texas Capital Bank Wealth Management Services Inc. lifted its stake in Broadridge Financial Solutions by 3.5% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc. now owns 2,080 shares of the business services provider’s stock valued at $319,000 after buying an additional 70 shares in the last quarter. Van ECK Associates Corp lifted its stake in Broadridge Financial Solutions by 0.9% in the fourth quarter. Van ECK Associates Corp now owns 7,956 shares of the business services provider’s stock valued at $1,219,000 after buying an additional 73 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Broadridge Financial Solutions by 36.2% in the fourth quarter. Meeder Asset Management Inc. now owns 312 shares of the business services provider’s stock valued at $48,000 after buying an additional 83 shares in the last quarter. Finally, CX Institutional lifted its stake in Broadridge Financial Solutions by 8.8% in the first quarter. CX Institutional now owns 1,036 shares of the business services provider’s stock valued at $159,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.

In other news, VP Laura Matlin sold 1,369 shares of the business’s stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $160.05, for a total value of $219,108.45. Following the sale, the vice president now owns 6,295 shares of the company’s stock, valued at $1,007,514.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

BR traded up $0.83 during trading on Friday, reaching $162.20. The company had a trading volume of 2,270 shares, compared to its average volume of 551,320. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.38 and a current ratio of 1.38. Broadridge Financial Solutions, Inc. has a 12 month low of $117.20 and a 12 month high of $167.54. The company’s fifty day moving average price is $159.59. The stock has a market capitalization of $18.84 billion, a P/E ratio of 36.59 and a beta of 0.87.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Monday, May 3rd. The business services provider reported $1.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. Broadridge Financial Solutions had a net margin of 10.71% and a return on equity of 45.63%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.28 billion. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 earnings per share. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 5.64 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 2nd. Stockholders of record on Tuesday, June 15th will be given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Monday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 45.73%.

About Broadridge Financial Solutions

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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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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