Squarepoint Ops LLC decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 125,571 shares of the business services provider’s stock after selling 8,328 shares during the period. Squarepoint Ops LLC’s holdings in Broadridge Financial Solutions were worth $12,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of BR. Whittier Trust Co. grew its stake in shares of Broadridge Financial Solutions by 117.3% during the 4th quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock worth $28,000 after purchasing an additional 156 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $39,000. CX Institutional acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $41,000. Oregon Public Employees Retirement Fund grew its stake in shares of Broadridge Financial Solutions by 8,044.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,178,116 shares of the business services provider’s stock worth $43,000 after purchasing an additional 4,126,816 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $52,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.
BR stock traded up $0.86 during midday trading on Thursday, reaching $102.62. The stock had a trading volume of 118,624 shares, compared to its average volume of 990,006. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market capitalization of $11.77 billion, a P/E ratio of 24.49, a PEG ratio of 2.23 and a beta of 0.84. Broadridge Financial Solutions, Inc. has a 52-week low of $91.34 and a 52-week high of $138.24.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, February 7th. The business services provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.15). The firm had revenue of $953.40 million during the quarter, compared to analysts’ expectations of $967.21 million. Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 4.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th will be issued a $0.485 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a yield of 1.89%. Broadridge Financial Solutions’s payout ratio is currently 46.30%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Rosenblatt Securities assumed coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, December 5th. They issued a “neutral” rating and a $110.00 price target on the stock. 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. 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, 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $118.67.
In other Broadridge Financial Solutions news, Director Alan J. Weber sold 1,980 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $100.36, for a total value of $198,712.80. Following the transaction, the director now owns 51,588 shares in the company, valued at approximately $5,177,371.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.
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Broadridge Financial Solutions Company 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.
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