Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Position Increased by MAI Capital Management

MAI Capital Management lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,886 shares of the business services provider’s stock after buying an additional 948 shares during the period. MAI Capital Management’s holdings in Broadridge Financial Solutions were worth $2,556,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC raised its position in shares of Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after purchasing an additional 8,837 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Broadridge Financial Solutions by 5.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after purchasing an additional 2,685 shares during the period. Atria Investments Inc raised its position in shares of Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after purchasing an additional 2,610 shares during the period. BDF Gestion acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth $3,954,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Broadridge Financial Solutions by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after purchasing an additional 28,180 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total value of $5,232,750.00. Following the sale, the chief executive officer now owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. The trade was a 10.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,033 shares of company stock worth $23,382,322. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $217.83.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $224.84 on Wednesday. The business’s 50-day moving average price is $216.50 and its two-hundred day moving average price is $208.63. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a one year low of $182.57 and a one year high of $230.00. The company has a market capitalization of $26.28 billion, a P/E ratio of 38.90 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.57%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Broadridge Financial Solutions Company Profile

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.