Jefferies Group LLC lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 30,670 shares of the business services provider’s stock after acquiring an additional 2,653 shares during the period. Jefferies Group LLC’s holdings in Broadridge Financial Solutions were worth $4,047,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of BR. Truvestments Capital LLC bought a new stake in Broadridge Financial Solutions in the third quarter worth $106,000. Fort L.P. bought a new stake in Broadridge Financial Solutions in the second quarter worth $120,000. Signaturefd LLC lifted its stake in Broadridge Financial Solutions by 101.6% in the second quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock worth $128,000 after purchasing an additional 562 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Broadridge Financial Solutions in the third quarter worth $129,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Broadridge Financial Solutions in the second quarter worth $154,000. 84.75% of the stock is owned by institutional investors.
In related news, Director Stuart R. Levine sold 8,902 shares of the business’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $98.75, for a total transaction of $879,072.50. Following the transaction, the director now owns 36,530 shares in the company, valued at $3,607,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard J. Daly sold 47,192 shares of the business’s stock in a transaction dated Tuesday, September 25th. The shares were 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 owns 387,336 shares in the company, valued at approximately $51,945,630.96. The disclosure for this sale can be found here. Insiders sold 334,256 shares of company stock worth $43,588,422 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.11. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The firm had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $970.19 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 4.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, December 13th. Broadridge Financial Solutions’s payout ratio is 46.30%.
A number of equities analysts have issued reports on BR shares. SunTrust Banks started coverage on shares of Broadridge Financial Solutions in a research report on Wednesday, August 29th. They issued a “buy” rating and a $150.00 price objective on the stock. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Friday, August 10th. Finally, Rosenblatt Securities started coverage on shares of Broadridge Financial Solutions in a research report on Wednesday. They issued a “neutral” rating and a $110.00 price objective on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $118.33.
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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