Harbour Investments Inc. Increases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Harbour Investments Inc. raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 19.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 573 shares of the business services provider’s stock after purchasing an additional 95 shares during the period. Harbour Investments Inc.’s holdings in Broadridge Financial Solutions were worth $130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BR. Empowered Funds LLC lifted its stake in shares of Broadridge Financial Solutions by 32.5% during the third quarter. Empowered Funds LLC now owns 2,468 shares of the business services provider’s stock valued at $531,000 after buying an additional 606 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Broadridge Financial Solutions by 24.5% during the third quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider’s stock valued at $1,335,000 after buying an additional 1,219 shares during the period. Pathstone Holdings LLC lifted its stake in shares of Broadridge Financial Solutions by 0.4% during the third quarter. Pathstone Holdings LLC now owns 20,791 shares of the business services provider’s stock valued at $4,473,000 after buying an additional 87 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Broadridge Financial Solutions by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 49,948 shares of the business services provider’s stock valued at $10,740,000 after buying an additional 504 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $4,407,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 124,754 shares of company stock valued at $29,397,793. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $233.03 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $246.58. The firm has a fifty day moving average of $236.05 and a 200-day moving average of $226.73. The firm has a market capitalization of $27.27 billion, a P/E ratio of 36.47 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period last year, the company earned $0.92 earnings per share. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Wall Street Analysts Forecast Growth

BR has been the subject of several research analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $239.17.

About Broadridge Financial Solutions

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.