OFI Invest Asset Management Grows Stock Holdings in Broadridge Financial Solutions, Inc. $BR

OFI Invest Asset Management increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 34.5% in the 2nd quarter, Holdings Channel reports. The firm owned 425 shares of the business services provider’s stock after buying an additional 109 shares during the period. OFI Invest Asset Management’s holdings in Broadridge Financial Solutions were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BR. Brighton Jones LLC purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $580,000. GAMMA Investing LLC raised its holdings in shares of Broadridge Financial Solutions by 28.3% during the first quarter. GAMMA Investing LLC now owns 4,083 shares of the business services provider’s stock valued at $990,000 after purchasing an additional 901 shares during the last quarter. Simon Quick Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $231,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Broadridge Financial Solutions by 42.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,933 shares of the business services provider’s stock valued at $7,015,000 after purchasing an additional 8,675 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $128,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on BR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Needham & Company LLC upped their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $261.50.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $232.81 on Monday. The firm has a fifty day moving average price of $250.05 and a 200-day moving average price of $242.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $27.17 billion, a PE ratio of 32.84 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 1 year low of $208.20 and a 1 year high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The firm had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 1.7%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.01%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 84,571 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the transaction, the chief executive officer owned 165,634 shares in the company, valued at $42,986,992.02. This trade represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Christopher John Perry sold 7,036 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the transaction, the president owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This trade represents a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,532 shares of company stock valued at $38,417,208 in the last quarter. 1.10% of the stock is owned by company insiders.

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.