Chase Investment Counsel Corp Buys New Position in Broadridge Financial Solutions, Inc. (BR)

Chase Investment Counsel Corp purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,225 shares of the business services provider’s stock, valued at approximately $1,452,000.

A number of other institutional investors have also made changes to their positions in BR. Teachers Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 35.9% in the fourth quarter. Teachers Advisors LLC now owns 133,125 shares of the business services provider’s stock worth $8,826,000 after buying an additional 35,200 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Broadridge Financial Solutions by 12.4% in the fourth quarter. Macquarie Group Ltd. now owns 65,476 shares of the business services provider’s stock valued at $4,342,000 after buying an additional 7,200 shares during the last quarter. Bath Savings Trust Co increased its stake in shares of Broadridge Financial Solutions by 5.0% in the first quarter. Bath Savings Trust Co now owns 93,718 shares of the business services provider’s stock valued at $6,368,000 after buying an additional 4,441 shares during the last quarter. McQueen Ball & Associates Inc. increased its stake in shares of Broadridge Financial Solutions by 0.7% in the first quarter. McQueen Ball & Associates Inc. now owns 10,910 shares of the business services provider’s stock valued at $741,000 after buying an additional 75 shares during the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of Broadridge Financial Solutions by 3.7% in the first quarter. Confluence Investment Management LLC now owns 968,685 shares of the business services provider’s stock valued at $65,822,000 after buying an additional 34,839 shares during the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Broadridge Financial Solutions, Inc. (BR) traded up 2.75% during mid-day trading on Friday, hitting $74.27. 785,625 shares of the stock were exchanged. Broadridge Financial Solutions, Inc. has a 12 month low of $59.86 and a 12 month high of $78.00. The firm has a market cap of $8.65 billion, a P/E ratio of 27.51 and a beta of 0.99. The stock’s 50 day moving average is $75.36 and its 200 day moving average is $71.49.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the business posted $1.45 earnings per share. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year. Analysts expect that Broadridge Financial Solutions, Inc. will post $3.66 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be given a dividend of $0.365 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. This represents a $1.46 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, September 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 48.35%.

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Several equities analysts have recently commented on BR shares. BidaskClub cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. DA Davidson initiated coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 price objective on the stock. Finally, Barclays PLC boosted their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $76.00.

In other Broadridge Financial Solutions news, insider Robert Schifellite sold 5,000 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $72.83, for a total value of $364,150.00. Following the sale, the insider now owns 79,167 shares in the company, valued at $5,765,732.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laura Matlin sold 630 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $71.89, for a total value of $45,290.70. Following the completion of the sale, the vice president now owns 5,271 shares in the company, valued at approximately $378,932.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,032 shares of company stock valued at $24,016,648. 3.50% of the stock is owned by company insiders.

Broadridge Financial Solutions Company Profile

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.

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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