Northwest Investment Counselors LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,948 shares of the business services provider’s stock after acquiring an additional 292 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Broadridge Financial Solutions were worth $1,229,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. California Public Employees Retirement System increased its stake in shares of Broadridge Financial Solutions by 1.1% during the fourth quarter. California Public Employees Retirement System now owns 952,502 shares of the business services provider’s stock worth $117,672,000 after acquiring an additional 10,705 shares during the period. CWM LLC boosted its holdings in Broadridge Financial Solutions by 29.5% during the fourth quarter. CWM LLC now owns 1,421 shares of the business services provider’s stock worth $176,000 after buying an additional 324 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in Broadridge Financial Solutions during the fourth quarter worth about $1,062,000. Arizona State Retirement System boosted its holdings in Broadridge Financial Solutions by 27.9% during the fourth quarter. Arizona State Retirement System now owns 62,395 shares of the business services provider’s stock worth $7,708,000 after buying an additional 13,625 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. purchased a new stake in Broadridge Financial Solutions during the fourth quarter worth about $5,502,000. Institutional investors and hedge funds own 86.34% of the company’s stock.
In related news, VP Robert F. Kalenka sold 13,784 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.54, for a total transaction of $1,633,955.36. Following the completion of the transaction, the vice president now owns 42,021 shares of the company’s stock, valued at $4,981,169.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan J. Weber sold 2,786 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $119.09, for a total transaction of $331,784.74. Following the transaction, the director now directly owns 66,350 shares of the company’s stock, valued at approximately $7,901,621.50. The disclosure for this sale can be found here. Insiders have sold 72,444 shares of company stock valued at $8,761,551 in the last ninety days. 2.20% of the stock is currently owned by company insiders.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.04). The business had revenue of $949.00 million during the quarter, compared to analysts’ expectations of $979.61 million. Broadridge Financial Solutions had a net margin of 10.63% and a return on equity of 46.28%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 5.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, December 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 46.35%.
A number of analysts recently commented on the stock. ValuEngine downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating and set a $128.00 price objective on the stock in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $133.25.
About Broadridge Financial Solutions
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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