Balyasny Asset Management L.P. Grows Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Balyasny Asset Management L.P. raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6,362.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233,685 shares of the business services provider’s stock after buying an additional 230,069 shares during the period. Balyasny Asset Management L.P.’s holdings in Broadridge Financial Solutions were worth $52,834,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of BR. Adero Partners LLC boosted its position in Broadridge Financial Solutions by 2.5% in the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC boosted its holdings in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after buying an additional 46 shares during the last quarter. Nicolet Advisory Services LLC grew its position in Broadridge Financial Solutions by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock valued at $224,000 after buying an additional 46 shares during the period. Advisors Capital Management LLC increased its holdings in Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider’s stock worth $326,000 after buying an additional 49 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $345,000 after acquiring an additional 52 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.3 %

Shares of BR opened at $232.31 on Tuesday. The business’s 50-day moving average price is $234.39 and its 200-day moving average price is $231.47. 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, Inc. has a twelve month low of $188.30 and a twelve month high of $247.01. The stock has a market cap of $27.18 billion, a PE ratio of 36.36 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.23 EPS. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company’s stock, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the transaction, the director now owns 4,960 shares of the company’s stock, valued at $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,240 shares of company stock valued at $29,273,611 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BR. JPMorgan Chase & Co. raised 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 note on Monday, February 3rd. UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $241.00.

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.