Broadridge Financial Solutions, Inc. $BR Stake Boosted by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 58.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,047 shares of the business services provider’s stock after purchasing an additional 12,883 shares during the period. SG Americas Securities LLC’s holdings in Broadridge Financial Solutions were worth $8,517,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at $580,000. CWM LLC increased its holdings in shares of Broadridge Financial Solutions by 2.9% in the 1st quarter. CWM LLC now owns 7,680 shares of the business services provider’s stock worth $1,862,000 after acquiring an additional 216 shares during the period. Victory Capital Management Inc. lifted its position in Broadridge Financial Solutions by 55.1% in the 1st quarter. Victory Capital Management Inc. now owns 75,544 shares of the business services provider’s stock valued at $18,316,000 after purchasing an additional 26,844 shares during the last quarter. Graypoint LLC boosted its stake in Broadridge Financial Solutions by 15.6% during the 1st quarter. Graypoint LLC now owns 1,163 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 157 shares during the period. Finally, Forum Financial Management LP acquired a new position in Broadridge Financial Solutions during the 1st quarter valued at about $202,000. 90.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Needham & Company LLC raised their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. DA Davidson restated a “neutral” rating and issued a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Tuesday, November 11th. UBS Group decreased their price target on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Morgan Stanley lowered their price target on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $259.83.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total value of $1,465,991.38. Following the transaction, the chief executive officer owned 143,285 shares of the company’s stock, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $225.92 on Monday. The business has a 50 day moving average price of $233.79 and a two-hundred day moving average price of $241.28. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $26.37 billion, a price-to-earnings ratio of 28.93 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 1-year low of $212.33 and a 1-year high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%.The company had revenue of $1.05 billion for the quarter. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, December 12th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 49.94%.

Broadridge Financial Solutions Company 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.