Broadridge Financial Solutions, Inc. $BR Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,901 shares of the business services provider’s stock after buying an additional 231 shares during the period. Concurrent Investment Advisors LLC’s holdings in Broadridge Financial Solutions were worth $2,892,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its stake in Broadridge Financial Solutions by 360.0% in the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after buying an additional 90 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the 1st quarter worth about $29,000. Continuum Advisory LLC boosted its stake in Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock worth $34,000 after buying an additional 46 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Broadridge Financial Solutions by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 117 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at about $36,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Broadridge Financial Solutions Price Performance

BR stock opened at $232.87 on Tuesday. The stock’s 50 day moving average is $249.73 and its two-hundred day moving average is $242.55. Broadridge Financial Solutions, Inc. has a 52-week low of $208.20 and a 52-week high of $271.91. The company has a market capitalization of $27.18 billion, a PE ratio of 32.84 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04.

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

Broadridge Financial Solutions Increases Dividend

The company 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. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.01%.

Insider Buying and Selling

In other news, CEO Timothy C. Gokey sold 5,674 shares of the business’s stock in a transaction that occurred 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. The trade was a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 trade represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock valued at $38,417,208 over the last quarter. Company insiders own 1.10% of the company’s stock.

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.