Newfound Research LLC Sells 347 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)


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Newfound Research LLC cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 40.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 508 shares of the business services provider’s stock after selling 347 shares during the period. Newfound Research LLC’s holdings in Broadridge Financial Solutions were worth $78,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McCollum Christoferson Group LLC lifted its stake in Broadridge Financial Solutions by 2.3% during the first quarter. McCollum Christoferson Group LLC now owns 41,776 shares of the business services provider’s stock worth $6,396,000 after purchasing an additional 933 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in Broadridge Financial Solutions by 3.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 203,673 shares of the business services provider’s stock worth $31,203,000 after purchasing an additional 6,999 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Broadridge Financial Solutions by 5.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 601,958 shares of the business services provider’s stock worth $92,220,000 after purchasing an additional 30,613 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in shares of Broadridge Financial Solutions by 2.1% during the fourth quarter. Congress Asset Management Co. MA now owns 134,114 shares of the business services provider’s stock worth $20,546,000 after buying an additional 2,783 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 36.3% during the fourth quarter. ProShare Advisors LLC now owns 38,319 shares of the business services provider’s stock worth $5,870,000 after buying an additional 10,213 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Several brokerages have recently issued reports on BR. BTIG Research upgraded shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $176.00 price target for the company in a report on Wednesday, February 3rd. Raymond James upped their price target on shares of Broadridge Financial Solutions from $155.00 to $157.00 and gave the stock an “outperform” rating in a report on Wednesday, February 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $154.17.

NYSE BR traded up $1.07 on Tuesday, reaching $161.05. The company had a trading volume of 7,923 shares, compared to its average volume of 568,101. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 39.50 and a beta of 0.83. Broadridge Financial Solutions, Inc. has a fifty-two week low of $110.74 and a fifty-two week high of $163.43. The business has a 50 day moving average of $154.71 and a two-hundred day moving average of $148.95. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.51 and a quick ratio of 1.51.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, May 4th. The business services provider reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.09. Broadridge Financial Solutions had a return on equity of 48.98% and a net margin of 10.27%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company posted $1.67 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 5.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 2nd. Stockholders of record on Monday, March 15th were given a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, March 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 45.73%.

In other news, Director Robert N. Duelks sold 3,699 shares of the stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $144.83, for a total transaction of $535,726.17. Following the transaction, the director now owns 34,266 shares of the company’s stock, valued at approximately $4,962,744.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Adam D. Amsterdam sold 20,936 shares of the stock in a transaction dated Thursday, February 18th. The stock was sold at an average price of $148.49, for a total transaction of $3,108,786.64. Following the transaction, the vice president now directly owns 21,400 shares in the company, valued at approximately $3,177,686. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.

Further Reading: Price-Sales Ratio

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

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