Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Lifted by Fmr LLC

Fmr LLC lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 80,194 shares of the business services provider’s stock after purchasing an additional 7,077 shares during the quarter. Fmr LLC’s holdings in Broadridge Financial Solutions were worth $17,244,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. D.A. Davidson & CO. acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at $212,000. Qsemble Capital Management LP acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at $1,412,000. Bank of Montreal Can lifted its holdings in shares of Broadridge Financial Solutions by 25.9% in the third quarter. Bank of Montreal Can now owns 139,763 shares of the business services provider’s stock valued at $29,634,000 after buying an additional 28,720 shares during the period. Horizon Kinetics Asset Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter valued at $483,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter valued at $45,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $235.90 on Wednesday. The stock’s 50 day moving average price is $223.21 and its two-hundred day moving average price is $212.19. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96. The firm has a market capitalization of $27.57 billion, a P/E ratio of 40.81 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced 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 is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insider Buying and Selling

In other news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the sale, the insider now directly owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This trade represents a 47.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock worth $12,264,846 in the last 90 days. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BR has been the subject of several analyst reports. Morgan Stanley upped their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. UBS Group started coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, DA Davidson upped their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $226.71.

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.