Broadridge Financial Solutions, Inc. (BR) Shares Bought by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 336.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,637 shares of the business services provider’s stock after purchasing an additional 173,202 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.19% of Broadridge Financial Solutions worth $29,641,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pendal Group Ltd acquired a new position in shares of Broadridge Financial Solutions in the third quarter worth $1,511,000. Gulf International Bank UK Ltd increased its stake in shares of Broadridge Financial Solutions by 2.6% in the third quarter. Gulf International Bank UK Ltd now owns 38,810 shares of the business services provider’s stock worth $5,120,000 after acquiring an additional 1,000 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of Broadridge Financial Solutions in the third quarter worth $2,349,000. WINTON GROUP Ltd acquired a new position in shares of Broadridge Financial Solutions in the third quarter worth $11,927,000. Finally, Wells Fargo & Company MN increased its stake in shares of Broadridge Financial Solutions by 32.0% in the third quarter. Wells Fargo & Company MN now owns 1,950,097 shares of the business services provider’s stock worth $257,315,000 after acquiring an additional 472,524 shares during the last quarter. Institutional investors own 84.55% of the company’s stock.

A number of research firms have recently weighed in on BR. Zacks Investment Research downgraded shares of Broadridge Financial Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Sandler O’Neill reaffirmed a “hold” rating and issued a $130.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Wolfe Research began coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, July 17th. They issued a “market perform” rating on the stock. Finally, SunTrust Banks began coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, August 29th. They issued a “buy” rating and a $150.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $123.40.

In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 67,974 shares of the stock in a transaction on Friday, October 5th. The shares were sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the transaction, the chief executive officer now directly owns 233,673 shares of the company’s stock, valued at $29,585,338.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Daly sold 47,192 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $134.11, for a total transaction of $6,328,919.12. Following the transaction, the chief executive officer now directly owns 387,336 shares in the company, valued at $51,945,630.96. The disclosure for this sale can be found here. Insiders have sold 370,080 shares of company stock worth $48,514,337 over the last three months. Company insiders own 2.30% of the company’s stock.

Broadridge Financial Solutions stock opened at $108.68 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.28 and a current ratio of 1.69. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a one year low of $86.80 and a one year high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, November 6th. The business services provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.11. The firm had revenue of $973.00 million for the quarter, compared to the consensus estimate of $970.19 million. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 4.67 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was originally reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this report on another site, it was stolen and reposted in violation of US and international trademark & copyright law. The legal version of this report can be accessed at https://www.thelincolnianonline.com/2018/11/08/broadridge-financial-solutions-inc-br-shares-bought-by-los-angeles-capital-management-equity-research-inc.html.

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.

Further Reading: Bond

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