Creekmur Asset Management LLC Raises Stake in Broadridge Financial Solutions, Inc. $BR

Creekmur Asset Management LLC raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 48.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,230 shares of the business services provider’s stock after purchasing an additional 1,388 shares during the period. Creekmur Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $1,028,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new position in shares of Broadridge Financial Solutions in the first quarter worth about $217,000. Golden State Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions in the first quarter worth about $29,000. Sequoia Financial Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 9.6% in the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider’s stock worth $279,000 after acquiring an additional 101 shares during the period. Nordea Investment Management AB boosted its stake in shares of Broadridge Financial Solutions by 40.8% in the second quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after acquiring an additional 63,798 shares during the period. Finally, Triangle Securities Wealth Management bought a new position in shares of Broadridge Financial Solutions in the second quarter worth about $784,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the sale, the chief executive officer directly owned 143,285 shares in the company, valued at approximately $37,020,545.45. This represents a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 147,532 shares of company stock worth $38,417,208. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Needham & Company LLC boosted their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. DA Davidson reiterated a “neutral” rating and issued a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $265.67.

Broadridge Financial Solutions Trading Up 0.5%

Shares of NYSE BR opened at $220.91 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. The business’s 50 day moving average price is $241.09 and its 200-day moving average price is $242.32. Broadridge Financial Solutions, Inc. has a fifty-two week low of $208.20 and a fifty-two week high of $271.91. The company has a market cap of $25.78 billion, a price-to-earnings ratio of 31.16 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The firm had revenue of $1.05 billion for the quarter. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a $0.975 dividend. The ex-dividend date was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a dividend yield of 1.8%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.01%.

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.