Goelzer Investment Management Inc. recently announced that it has lowered its holdings in shares of Broadridge Financial Solutions, Inc., a business services provider on the New York Stock Exchange (NYSE:BR), by 9.1% during the last quarter. The institutional investor owns 21,004 shares of the company’s stock, after selling off 2,095 shares during the reporting period. According to the most recent Form 13F filing with the Securities and Exchange Commission, Goelzer Investment Management Inc.’s holdings in Broadridge Financial Solutions were valued at $2,817,000 as at the end of this reporting period.
Furthermore, Broadridge Financial Solutions recently disclosed their quarterly dividend payment plan to investors. Shareholders recorded on Wednesday March 15 will be issued a dividend payment of $0.725 per share on Wednesday April 5th. This dividend amounts to an annualized return rate of $2.90 and a yield rate standing at about 2.03%. The ex-dividend date is Tuesday March 14th and the payout ratio currently stands at around 64.73%.
In light of these recent reports regarding Broadridge Financial Solution’s shares, several research analysts have given their insight into BR’s performance over recent months. Amongst them was TheStreet who upgraded Broadridge Financial Solutions from a “c+” rating to a “b” rating in February this year and Morgan Stanley who initiated coverage on shares also in December last year issuing an “equal weight” rating with a price objective set by them for the company standing at $160 per share.
In addition to this Raymond James released a report in February giving market analysis results showing that they had upped their target price for these shares from $180.00 to $183 while giving it an “outperform” rating alongside StockNews.com’s rating of “hold” following upon broad research on this company’s performance over time.
Lastly Wolfe Research decreased their price objective on Broadridge Financial Solutions shares from $137 to $135 placing them in contrast with other analyst reports suggesting a positive outlook for the company despite this fact. As such, it remains to be seen what future prospects or movements could occur in light of these opinions and market fluctuations.
Institutional and Hedge Fund Investors Show Strong Interest in Broadridge Financial Solutions Inc (NYSE:BR)
Broadridge Financial Solutions Inc. (NYSE:BR) has been attracting big investors recently, with hedge funds and institutional investors increasing their stakes in the company. Among them are Dark Forest Capital Management LP, which recently bought a new stake in the company valued at $25,000 during the second quarter, and Nelson Van Denburg & Campbell Wealth Management Group LLC who purchased a new stake worth about $29,000 during the third quarter. Asset Dedication LLC also bought into BR during the fourth quarter at approximately $31,000 followed by General Partner Inc. who invested approximately $45,000 into BR’s stock during Q4.
Moreover, Lumature Wealth Partners LLC grew its holdings of the company by 82.5% in the first quarter and now holds 365 shares of the business services provider’s stock valued at $57,000 after buying an additional 165 shares in the last quarter — demonstrating strong interest from financial institutions.
Further related news revealed that author Robert N. Duelks sold 1,425 shares of BR’s stock recently in a transaction valued at $201,010.50; following this sale he still retained six thousand two hundred seventy-five shares in the company valued at approximately $885k.
Broadridge Financial Solutions has recently declared its quarterly dividend which will be paid on Wednesday April 5th to investors with records as of Wednesday March 15th; it amounts to a payment of $0.725 per share or annually equates to a yield of roughly 2%.
With market capitalization reaching $16.83bn and having opened Thursday trading trading at around $142.98 average estimate shows that Broadridge should generate annual earnings per share (EPS) of about $$6.91 for this year-end.’
— to beststocks.com
