BB&T Corp Boosts Stake in Broadridge Financial Solutions Inc. (BR)
BB&T Corp raised its position in shares of Broadridge Financial Solutions Inc. (NYSE:BR) by 30.8% during the second quarter, Holdings Channel reports. The firm owned 373,343 shares of the company’s stock after buying an additional 87,931 shares during the period. BB&T Corp’s holdings in Broadridge Financial Solutions were worth $24,341,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Integrated Investment Consultants LLC increased its stake in shares of Broadridge Financial Solutions by 214.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,125 shares of the company’s stock worth $139,000 after buying an additional 1,450 shares in the last quarter. Strs Ohio bought a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $173,000. Financial Architects Inc increased its stake in shares of Broadridge Financial Solutions by 0.7% in the second quarter. Financial Architects Inc now owns 3,148 shares of the company’s stock worth $205,000 after buying an additional 21 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $212,000. Finally, Park National Corp OH bought a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $215,000. 87.21% of the stock is owned by hedge funds and other institutional investors.
Broadridge Financial Solutions Inc. (NYSE:BR) traded down 0.46% during mid-day trading on Wednesday, hitting $65.20. The stock had a trading volume of 114,988 shares. The company has a market cap of $7.71 billion, a PE ratio of 25.77 and a beta of 1.04. Broadridge Financial Solutions Inc. has a one year low of $48.56 and a one year high of $71.74. The firm’s 50-day moving average price is $68.33 and its 200 day moving average price is $65.25.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 9th. The company reported $1.45 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.45. The business earned $975 million during the quarter, compared to the consensus estimate of $991.13 million. Broadridge Financial Solutions had a return on equity of 34.79% and a net margin of 10.61%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 EPS. On average, equities research analysts anticipate that Broadridge Financial Solutions Inc. will post $3.14 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 15th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.02%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, September 13th. Broadridge Financial Solutions’s payout ratio is presently 52.17%.
A number of analysts recently issued reports on BR shares. Zacks Investment Research downgraded Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Sandler O’Neill downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price target for the company. in a research report on Thursday, September 29th. Barclays PLC raised their price target on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. Finally, Atlantic Securities started coverage on Broadridge Financial Solutions in a research report on Tuesday, September 13th. They issued an “overweight” rating and a $82.00 price target for the company. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $72.60.
In related news, insider Adam D. Amsterdam sold 91,412 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $68.02, for a total transaction of $6,217,844.24. Following the completion of the sale, the insider now directly owns 60,134 shares in the company, valued at $4,090,314.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert F. Kalenka sold 53,818 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $68.96, for a total value of $3,711,289.28. Following the sale, the insider now owns 52,447 shares of the company’s stock, valued at $3,616,745.12. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.
About Broadridge Financial Solutions
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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