Broadridge Financial Solutions (BR) Holdings Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in Broadridge Financial Solutions (NYSE:BR) by 65.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,978 shares of the business services provider’s stock after selling 164,016 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Broadridge Financial Solutions worth $9,512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Teacher Retirement System of Texas lifted its stake in Broadridge Financial Solutions by 343.8% in the first quarter. Teacher Retirement System of Texas now owns 170,613 shares of the business services provider’s stock valued at $18,715,000 after buying an additional 132,171 shares during the period. ClariVest Asset Management LLC lifted its stake in Broadridge Financial Solutions by 61.5% in the first quarter. ClariVest Asset Management LLC now owns 16,800 shares of the business services provider’s stock valued at $1,842,000 after buying an additional 6,400 shares during the period. Penserra Capital Management LLC lifted its stake in Broadridge Financial Solutions by 1,518.4% in the first quarter. Penserra Capital Management LLC now owns 70,207 shares of the business services provider’s stock valued at $7,700,000 after buying an additional 65,869 shares during the period. Tyers Asset Management LLC lifted its stake in Broadridge Financial Solutions by 81.6% in the first quarter. Tyers Asset Management LLC now owns 19,052 shares of the business services provider’s stock valued at $2,090,000 after buying an additional 8,558 shares during the period. Finally, Riverhead Capital Management LLC lifted its stake in Broadridge Financial Solutions by 81.5% in the first quarter. Riverhead Capital Management LLC now owns 21,608 shares of the business services provider’s stock valued at $2,370,000 after buying an additional 9,700 shares during the period. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Adam D. Amsterdam sold 19,600 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $99.36, for a total transaction of $1,947,456.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard J. Daly sold 26,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $107.44, for a total value of $2,793,440.00. Following the transaction, the chief executive officer now directly owns 337,845 shares in the company, valued at $36,298,066.80. The disclosure for this sale can be found here. Insiders have sold 83,447 shares of company stock worth $9,072,173 over the last ninety days. 2.60% of the stock is owned by insiders.

Several equities analysts have issued reports on the company. Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Thursday, May 10th. ValuEngine raised Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. DA Davidson boosted their price target on Broadridge Financial Solutions from $90.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 28th. Sandler O’Neill reissued a “hold” rating and issued a $101.00 price target on shares of Broadridge Financial Solutions in a research note on Thursday, February 15th. Finally, Barclays boosted their price target on Broadridge Financial Solutions from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Six analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $100.25.

Shares of Broadridge Financial Solutions opened at $114.76 on Monday, MarketBeat reports. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions has a twelve month low of $71.58 and a twelve month high of $118.36. The company has a market cap of $13.53 billion, a PE ratio of 28.41, a PEG ratio of 2.73 and a beta of 0.86.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, May 8th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.21. Broadridge Financial Solutions had a return on equity of 45.33% and a net margin of 9.37%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 6.2% on a year-over-year basis. equities analysts predict that Broadridge Financial Solutions will post 4.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Friday, June 15th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, June 14th. Broadridge Financial Solutions’s payout ratio is 46.65%.

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.

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 (NYSE:BR).

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

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply