Brooklyn Investment Group Purchases New Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

by · The Markets Daily

Brooklyn Investment Group purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 662 shares of the business services provider’s stock, valued at approximately $142,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its holdings in Broadridge Financial Solutions by 157.0% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock worth $56,000 after buying an additional 168 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Broadridge Financial Solutions by 44.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,777 shares of the business services provider’s stock worth $979,000 after purchasing an additional 1,469 shares during the period. California State Teachers Retirement System raised its position in shares of Broadridge Financial Solutions by 1.4% during the 1st quarter. California State Teachers Retirement System now owns 196,655 shares of the business services provider’s stock worth $40,287,000 after purchasing an additional 2,698 shares during the period. Tidal Investments LLC raised its position in shares of Broadridge Financial Solutions by 99.6% during the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after purchasing an additional 8,837 shares during the period. Finally, Comerica Bank raised its position in shares of Broadridge Financial Solutions by 5.0% during the 1st quarter. Comerica Bank now owns 45,797 shares of the business services provider’s stock worth $9,382,000 after purchasing an additional 2,182 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $235.80 on Thursday. The stock has a market cap of $27.56 billion, a PE ratio of 40.80 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12 month low of $186.19 and a 12 month high of $237.74. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $218.43 and a 200-day simple moving average of $209.84.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Analysts Set New Price Targets

BR has been the topic of a number of research reports. UBS Group assumed coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $222.43.

Read Our Latest Research Report on BR

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,294 shares of company stock valued at $16,944,095. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report).