AGF Investments Inc. boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 87.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,870 shares of the business services provider’s stock after buying an additional 870 shares during the quarter. AGF Investments Inc.’s holdings in Broadridge Financial Solutions were worth $342,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of BR. Morgan Stanley increased its stake in Broadridge Financial Solutions by 23.2% during the second quarter. Morgan Stanley now owns 628,127 shares of the business services provider’s stock valued at $101,461,000 after acquiring an additional 118,240 shares during the period. Bank of America Corp DE increased its stake in Broadridge Financial Solutions by 6.1% during the second quarter. Bank of America Corp DE now owns 765,002 shares of the business services provider’s stock valued at $123,571,000 after acquiring an additional 43,785 shares during the period. Assenagon Asset Management S.A. bought a new position in Broadridge Financial Solutions during the third quarter valued at about $1,535,000. Kestra Advisory Services LLC increased its stake in Broadridge Financial Solutions by 3.0% during the third quarter. Kestra Advisory Services LLC now owns 9,873 shares of the business services provider’s stock valued at $1,645,000 after acquiring an additional 285 shares during the period. Finally, Avantax Advisory Services Inc. increased its stake in Broadridge Financial Solutions by 30.5% during the third quarter. Avantax Advisory Services Inc. now owns 2,069 shares of the business services provider’s stock valued at $343,000 after acquiring an additional 484 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a research note on Thursday, February 3rd. StockNews.com assumed coverage on Broadridge Financial Solutions in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $177.50.
BR stock opened at $160.84 on Friday. Broadridge Financial Solutions, Inc. has a 1-year low of $137.58 and a 1-year high of $185.40. The firm has a market cap of $18.78 billion, a P/E ratio of 35.19 and a beta of 0.96. The business’s 50 day moving average is $149.73 and its 200-day moving average is $164.55. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.38.
Broadridge Financial Solutions (NYSE:BR – Get Rating) last released its quarterly earnings data on Tuesday, February 1st. The business services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.20 billion. Broadridge Financial Solutions had a return on equity of 39.99% and a net margin of 10.05%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 6.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 5th. Investors of record on Tuesday, March 15th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $2.56 dividend on an annualized basis and a yield of 1.59%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 56.02%.
Broadridge Financial Solutions Profile (Get Rating)
Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.
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