Tidal Investments LLC Purchases 4,654 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Tidal Investments LLC raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 43.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,300 shares of the business services provider’s stock after purchasing an additional 4,654 shares during the period. Tidal Investments LLC’s holdings in Broadridge Financial Solutions were worth $3,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $3,530,000. World Investment Advisors LLC raised its stake in Broadridge Financial Solutions by 10.9% in the third quarter. World Investment Advisors LLC now owns 4,229 shares of the business services provider’s stock worth $909,000 after buying an additional 416 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Broadridge Financial Solutions by 26.2% during the third quarter. Sanctuary Advisors LLC now owns 18,098 shares of the business services provider’s stock worth $4,167,000 after buying an additional 3,761 shares during the period. Unigestion Holding SA boosted its position in Broadridge Financial Solutions by 20.3% during the 3rd quarter. Unigestion Holding SA now owns 5,215 shares of the business services provider’s stock valued at $1,121,000 after acquiring an additional 880 shares in the last quarter. Finally, Second Line Capital LLC increased its holdings in shares of Broadridge Financial Solutions by 6.1% in the 3rd quarter. Second Line Capital LLC now owns 12,673 shares of the business services provider’s stock valued at $2,736,000 after acquiring an additional 728 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction 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 sale, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,975,838.77. This trade represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,532 shares of company stock valued at $12,264,846. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.6 %

BR stock opened at $233.53 on Friday. The stock has a market capitalization of $27.30 billion, a PE ratio of 40.40 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.96. 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 firm has a 50 day moving average of $224.43 and a 200 day moving average of $212.87.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS 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 business’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid 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 1.51%. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

Analysts Set New Price Targets

BR has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. Finally, Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $226.71.

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.