Amalgamated Bank Increases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

by · The Markets Daily

Amalgamated Bank raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,061 shares of the business services provider’s stock after buying an additional 279 shares during the quarter. Amalgamated Bank’s holdings in Broadridge Financial Solutions were worth $6,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in BR. Vanguard Group Inc. grew its holdings in shares of Broadridge Financial Solutions by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock valued at $3,231,904,000 after purchasing an additional 74,674 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock valued at $804,952,000 after purchasing an additional 1,186,555 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Broadridge Financial Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock valued at $684,971,000 after purchasing an additional 37,141 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Broadridge Financial Solutions by 2.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock valued at $378,175,000 after purchasing an additional 43,533 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Broadridge Financial Solutions by 2.5% in the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider’s stock valued at $372,713,000 after purchasing an additional 40,506 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BR shares. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 target price for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $250.83.

Read Our Latest Stock Report on Broadridge Financial Solutions

Broadridge Financial Solutions Stock Up 0.7%

Shares of BR opened at $244.73 on Wednesday. The company has a market cap of $28.75 billion, a PE ratio of 36.80 and a beta of 0.95. The business has a fifty day moving average of $239.25 and a 200 day moving average of $235.46. Broadridge Financial Solutions, Inc. has a 52-week low of $196.43 and a 52-week high of $247.01. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. Broadridge Financial Solutions’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $2.23 earnings per share. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the sale, the vice president directly owned 6,077 shares in the company, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the sale, the insider owned 1,070 shares of the company’s stock, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Profile

(Free Report)

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.

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