Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Position Lifted by CX Institutional

CX Institutional boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,471 shares of the business services provider’s stock after purchasing an additional 66 shares during the period. CX Institutional’s holdings in Broadridge Financial Solutions were worth $333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BR. Sei Investments Co. grew its position in Broadridge Financial Solutions by 22.7% during the second quarter. Sei Investments Co. now owns 24,102 shares of the business services provider’s stock valued at $4,749,000 after purchasing an additional 4,465 shares in the last quarter. Public Sector Pension Investment Board grew its position in Broadridge Financial Solutions by 79.8% during the second quarter. Public Sector Pension Investment Board now owns 4,640 shares of the business services provider’s stock valued at $914,000 after purchasing an additional 2,060 shares in the last quarter. AXA S.A. grew its position in Broadridge Financial Solutions by 2.1% during the second quarter. AXA S.A. now owns 36,432 shares of the business services provider’s stock valued at $7,177,000 after purchasing an additional 737 shares in the last quarter. AQR Capital Management LLC grew its position in Broadridge Financial Solutions by 14.9% during the second quarter. AQR Capital Management LLC now owns 65,706 shares of the business services provider’s stock valued at $12,944,000 after purchasing an additional 8,527 shares in the last quarter. Finally, MBB Public Markets I LLC grew its position in Broadridge Financial Solutions by 516.8% during the second quarter. MBB Public Markets I LLC now owns 8,209 shares of the business services provider’s stock valued at $1,617,000 after purchasing an additional 6,878 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,532 shares of company stock worth $12,264,846 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on BR. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $226.71.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $237.48 on Monday. The firm has a fifty day simple moving average of $230.15 and a 200-day simple moving average of $219.23. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $237.96. The stock has a market capitalization of $27.76 billion, a price-to-earnings ratio of 41.09 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. Broadridge Financial Solutions’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Broadridge Financial Solutions 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.