Mercer Global Advisors Inc. ADV Invests $402,000 in Broadridge Financial Solutions, Inc. (BR) Stock

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Mercer Global Advisors Inc. ADV purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 4,180 shares of the business services provider’s stock, valued at approximately $402,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Broadridge Financial Solutions by 586.4% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 134,740 shares of the business services provider’s stock valued at $13,971,000 after purchasing an additional 115,109 shares during the period. Vision Capital Management Inc. grew its position in shares of Broadridge Financial Solutions by 11.8% in the fourth quarter. Vision Capital Management Inc. now owns 51,652 shares of the business services provider’s stock valued at $4,972,000 after purchasing an additional 5,462 shares during the period. CX Institutional acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $41,000. Nuveen Asset Management LLC grew its position in shares of Broadridge Financial Solutions by 21.4% in the fourth quarter. Nuveen Asset Management LLC now owns 243,934 shares of the business services provider’s stock valued at $23,479,000 after purchasing an additional 43,023 shares during the period. Finally, Eukles Asset Management acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $241,000. Institutional investors own 84.26% of the company’s stock.

NYSE:BR opened at $112.79 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $13.05 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84. Broadridge Financial Solutions, Inc. has a twelve month low of $91.34 and a twelve month high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.15). The business had revenue of $953.40 million during the quarter, compared to analysts’ expectations of $967.21 million. Broadridge Financial Solutions had a return on equity of 43.95% and a net margin of 10.25%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.

In other Broadridge Financial Solutions news, Director Alan J. Weber sold 1,980 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total transaction of $198,712.80. Following the transaction, the director now directly owns 51,588 shares of the company’s stock, valued at $5,177,371.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 1,215 shares of Broadridge Financial Solutions stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $108.82, for a total transaction of $132,216.30. Following the transaction, the vice president now directly owns 4,202 shares in the company, valued at $457,261.64. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

BR has been the topic of several research reports. Raymond James raised shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a research note on Wednesday, March 13th. SunTrust Banks reissued a “buy” rating and issued a $110.00 price target on shares of Broadridge Financial Solutions in a research note on Sunday, January 6th. DA Davidson raised shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 price target on the stock in a research note on Friday, February 8th. Finally, Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $117.67.

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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.

See Also: Diversification

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR).

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

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