Russell Investments Group Ltd. lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 34.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,928 shares of the business services provider’s stock after selling 50,518 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Broadridge Financial Solutions worth $15,093,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in shares of Broadridge Financial Solutions by 5.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 24,349 shares of the business services provider’s stock valued at $4,451,000 after buying an additional 1,344 shares during the last quarter. CWM LLC bought a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $377,000. Ieq Capital LLC increased its stake in Broadridge Financial Solutions by 29.6% in the 4th quarter. Ieq Capital LLC now owns 2,559 shares of the business services provider’s stock worth $468,000 after purchasing an additional 585 shares during the period. Qube Research & Technologies Ltd bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $4,733,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Broadridge Financial Solutions by 6.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,800 shares of the business services provider’s stock valued at $5,265,000 after purchasing an additional 1,661 shares during the period. Hedge funds and other institutional investors own 87.01% of the company’s stock.
Broadridge Financial Solutions Stock Up 1.2 %
Shares of Broadridge Financial Solutions stock opened at $167.12 on Friday. The company’s 50 day moving average price is $147.40 and its 200-day moving average price is $148.32. Broadridge Financial Solutions, Inc. has a 52-week low of $132.40 and a 52-week high of $185.40. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market capitalization of $19.59 billion, a price-to-earnings ratio of 35.86 and a beta of 0.94.
Broadridge Financial Solutions (NYSE:BR – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The business services provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.16. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Broadridge Financial Solutions had a net margin of 9.99% and a return on equity of 39.83%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.76 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 6.49 EPS for the current year.
Broadridge Financial Solutions Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th were issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.94%.
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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