Cullen Frost Bankers Inc. trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 35,737 shares of the business services provider’s stock after selling 2,353 shares during the period. Cullen Frost Bankers Inc.’s holdings in Broadridge Financial Solutions were worth $4,416,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of BR. Albion Financial Group UT increased its stake in Broadridge Financial Solutions by 4.4% in the 4th quarter. Albion Financial Group UT now owns 2,033 shares of the business services provider’s stock valued at $251,000 after purchasing an additional 85 shares in the last quarter. LS Investment Advisors LLC increased its stake in Broadridge Financial Solutions by 2.0% in the 3rd quarter. LS Investment Advisors LLC now owns 4,563 shares of the business services provider’s stock valued at $568,000 after purchasing an additional 90 shares in the last quarter. Appleton Partners Inc. MA increased its stake in Broadridge Financial Solutions by 3.3% in the 3rd quarter. Appleton Partners Inc. MA now owns 2,974 shares of the business services provider’s stock valued at $370,000 after purchasing an additional 95 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Broadridge Financial Solutions by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 20,892 shares of the business services provider’s stock valued at $2,600,000 after purchasing an additional 107 shares in the last quarter. Finally, Lantz Financial LLC increased its stake in Broadridge Financial Solutions by 1.0% in the 4th quarter. Lantz Financial LLC now owns 12,182 shares of the business services provider’s stock valued at $1,505,000 after purchasing an additional 116 shares in the last quarter. 86.91% of the stock is owned by institutional investors and hedge funds.
In other news, Director Thomas J. Perna sold 7,680 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $121.57, for a total transaction of $933,657.60. Following the sale, the director now owns 36,127 shares in the company, valued at $4,391,959.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Julie R. Taylor sold 12,700 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $120.47, for a total value of $1,529,969.00. Following the sale, the vice president now owns 26,383 shares in the company, valued at approximately $3,178,360.01. The disclosure for this sale can be found here. Insiders have sold 68,574 shares of company stock valued at $8,325,780 in the last three months. 2.20% of the stock is currently owned by company insiders.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.23). The company had revenue of $969.00 million for the quarter, compared to analysts’ expectations of $998.02 million. Broadridge Financial Solutions had a return on equity of 45.83% and a net margin of 9.68%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 5.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 13th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, March 12th. Broadridge Financial Solutions’s payout ratio is 46.35%.
BR has been the subject of several recent research reports. Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating and set a $128.00 price target for the company in a research report on Tuesday, December 17th. DA Davidson raised Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and raised their price target for the stock from $134.00 to $138.00 in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $135.75.
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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