Ashton Thomas Private Wealth LLC Acquires 371 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Ashton Thomas Private Wealth LLC increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,091 shares of the business services provider’s stock after purchasing an additional 371 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Broadridge Financial Solutions were worth $665,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC increased its stake in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Rothschild Investment LLC acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth approximately $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions in the first quarter worth approximately $34,000. Finally, Family Firm Inc. acquired a new stake in Broadridge Financial Solutions in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In other news, President Christopher John Perry sold 6,501 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $210.22, for a total transaction of $1,366,640.22. Following the completion of the sale, the president now owns 67,771 shares in the company, valued at $14,246,819.62. This trade represents a 8.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,696 shares of company stock worth $24,782,982. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $217.83.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $227.92 on Friday. The company has a fifty day moving average price of $215.55 and a 200-day moving average price of $207.80. The firm has a market cap of $26.64 billion, a price-to-earnings ratio of 39.43 and a beta of 1.05. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a 1 year low of $180.16 and a 1 year high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm posted $1.09 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.54%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

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.