Douglas Lane & Associates LLC increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,377 shares of the business services provider’s stock after buying an additional 32,955 shares during the quarter. Douglas Lane & Associates LLC owned about 0.25% of Broadridge Financial Solutions worth $43,873,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. HM Payson & Co. increased its stake in shares of Broadridge Financial Solutions by 33,230.4% during the third quarter. HM Payson & Co. now owns 169,985 shares of the business services provider’s stock valued at $22,438,000 after acquiring an additional 169,475 shares during the period. ExodusPoint Capital Management LP bought a new stake in Broadridge Financial Solutions in the third quarter worth about $422,000. California State Teachers Retirement System lifted its holdings in Broadridge Financial Solutions by 2.4% in the 3rd quarter. California State Teachers Retirement System now owns 210,354 shares of the business services provider’s stock valued at $27,767,000 after acquiring an additional 4,981 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Broadridge Financial Solutions in the 3rd quarter valued at about $27,478,000. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Broadridge Financial Solutions by 3.0% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,749 shares of the business services provider’s stock valued at $495,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.
In other news, Director Thomas J. Perna sold 20,706 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $145.63, for a total transaction of $3,015,414.78. Following the completion of the transaction, the director now directly owns 40,820 shares in the company, valued at $5,944,616.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Christopher John Perry sold 24,790 shares of the business’s stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $152.12, for a total transaction of $3,771,054.80. Following the sale, the president now directly owns 80,260 shares of the company’s stock, valued at $12,209,151.20. The disclosure for this sale can be found here. Insiders sold 103,715 shares of company stock valued at $15,188,880 in the last three months. Insiders own 2.00% of the company’s stock.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, November 4th. The business services provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.35. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $971.21 million. Broadridge Financial Solutions had a net margin of 10.27% and a return on equity of 48.98%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 5.5 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 15th were issued a $0.575 dividend. The ex-dividend date was Monday, December 14th. This represents a $2.30 annualized dividend and a yield of 1.49%. Broadridge Financial Solutions’s payout ratio is currently 45.73%.
A number of brokerages recently weighed in on BR. Truist initiated coverage on shares of Broadridge Financial Solutions in a report on Friday, December 18th. They set a “buy” rating and a $175.00 target price for the company. BTIG Research reaffirmed a “hold” rating on shares of Broadridge Financial Solutions in a research report on Sunday, December 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $144.50.
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.
Featured Story: What is the Dividend Aristocrat Index?
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, Inc. (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.