Oppenheimer Asset Management Inc. Grows Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Oppenheimer Asset Management Inc. raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.5% during the third quarter, HoldingsChannel reports. The fund owned 12,892 shares of the business services provider’s stock after purchasing an additional 194 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $2,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC boosted its position in shares of 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 acquiring an additional 96 shares during the period. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Rothschild Investment LLC purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions in the first quarter worth $34,000. Finally, Family Firm Inc. purchased a new stake in shares of Broadridge Financial Solutions in the second quarter worth $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.1 %

Shares of BR opened at $227.78 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $180.31 and a fifty-two week high of $230.00. The firm has a market cap of $26.63 billion, a price-to-earnings ratio of 39.41 and a beta of 1.05. The firm has a 50 day moving average price of $215.95 and a 200-day moving average price of $208.12. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared 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 yield of 1.55%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Wall Street Analyst Weigh In

BR has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised 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. Morgan Stanley lifted their target price on shares of 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. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $217.83.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 162 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $210.00, for a total transaction of $34,020.00. Following the completion of the transaction, the president now directly owns 67,267 shares of the company’s stock, valued at approximately $14,126,070. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,696 shares of company stock valued at $24,782,982 in the last ninety days. Company insiders own 1.30% of the company’s stock.

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.