Oppenheimer Asset Management Inc. Has $6.65 Million Stake in Broadridge Financial Solutions (BR)

Oppenheimer Asset Management Inc. decreased its holdings in shares of Broadridge Financial Solutions (NYSE:BR) by 26.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,593 shares of the business services provider’s stock after selling 22,090 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.05% of Broadridge Financial Solutions worth $6,647,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BR. BlackRock Inc. boosted its holdings in Broadridge Financial Solutions by 6.3% in the fourth quarter. BlackRock Inc. now owns 13,884,096 shares of the business services provider’s stock valued at $1,257,619,000 after acquiring an additional 818,115 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Broadridge Financial Solutions by 75.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,110,408 shares of the business services provider’s stock valued at $121,839,000 after acquiring an additional 479,306 shares during the last quarter. Deutsche Bank AG boosted its holdings in Broadridge Financial Solutions by 38.1% in the fourth quarter. Deutsche Bank AG now owns 1,379,752 shares of the business services provider’s stock valued at $124,975,000 after acquiring an additional 380,595 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Broadridge Financial Solutions by 59.3% in the fourth quarter. Renaissance Technologies LLC now owns 699,300 shares of the business services provider’s stock valued at $63,343,000 after acquiring an additional 260,236 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings 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 acquiring an additional 132,171 shares during the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

Shares of Broadridge Financial Solutions stock opened at $114.31 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.57 and a current ratio of 1.57. Broadridge Financial Solutions has a twelve month low of $71.58 and a twelve month high of $118.36. The firm has a market capitalization of $13.62 billion, a P/E ratio of 36.52, a PEG ratio of 2.75 and a beta of 0.86.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, May 8th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate 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 last year, the company posted $0.69 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. equities research analysts predict that Broadridge Financial Solutions will post 4.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Friday, June 15th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.65%.

In other Broadridge Financial Solutions news, VP Julie R. Taylor sold 1,197 shares of the firm’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $114.73, for a total value of $137,331.81. Following the transaction, the vice president now directly owns 2,762 shares of the company’s stock, valued at $316,884.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam D. Amsterdam sold 19,600 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $99.36, for a total value of $1,947,456.00. The disclosure for this sale can be found here. Insiders sold 128,692 shares of company stock worth $14,285,755 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

A number of research analysts recently weighed in on BR shares. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Wednesday, January 31st. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Barclays lifted their target price on Broadridge Financial Solutions from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Sandler O’Neill reiterated a “hold” rating and issued a $101.00 target price on shares of Broadridge Financial Solutions in a report on Thursday, February 15th. Finally, DA Davidson lifted their target price on Broadridge Financial Solutions from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, March 28th. Six research 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 an average price target of $100.25.

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.

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

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