Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Second Line Capital LLC

Second Line Capital LLC lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,227 shares of the business services provider’s stock after purchasing an additional 554 shares during the period. Broadridge Financial Solutions comprises about 0.8% of Second Line Capital LLC’s investment portfolio, making the stock its 28th biggest holding. Second Line Capital LLC’s holdings in Broadridge Financial Solutions were worth $3,002,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $34,000. Gen Wealth Partners Inc bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $36,000. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $45,000. Finally, Promus Capital LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $52,000. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BR shares. JPMorgan Chase & Co. increased 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. UBS Group raised their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $250.83.

Insiders Place Their Bets

In related news, VP Thomas P. Carey sold 3,607 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the transaction, the vice president now owns 6,077 shares of the company’s stock, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now directly owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This represents a 8.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,473 shares of company stock worth $29,072,366. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $241.32 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $192.68 and a 12 month high of $247.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $28.35 billion, a PE ratio of 37.76 and a beta of 0.98. The company’s 50 day simple moving average is $234.22 and its 200 day simple moving average is $232.61.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.23 earnings per share. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 52.93%.

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.