Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 58.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,914 shares of the business services provider’s stock after acquiring an additional 8,051 shares during the quarter. Cerity Partners LLC’s holdings in Broadridge Financial Solutions were worth $4,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BR. NBC Securities Inc. lifted its position in shares of Broadridge Financial Solutions by 0.8% in the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after acquiring an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Broadridge Financial Solutions by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after purchasing an additional 50 shares during the last quarter. Garrison Asset Management LLC lifted its holdings in Broadridge Financial Solutions by 0.3% in the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after purchasing an additional 50 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Broadridge Financial Solutions by 2.5% during the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after purchasing an additional 52 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its stake in shares of Broadridge Financial Solutions by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 10,804 shares of the business services provider’s stock worth $2,128,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $235.80 on Friday. The company has a market cap of $27.56 billion, a price-to-earnings 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 debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The stock’s 50-day moving average is $218.97 and its 200-day moving average is $210.02.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company posted $1.09 earnings per share. Broadridge Financial Solutions’s revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insiders Place Their Bets

In other news, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The trade was a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the sale, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,294 shares of company stock worth $16,944,095 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BR has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group started coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, 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 report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus target price of $222.43.

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.