Fiduciary Family Office LLC Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Fiduciary Family Office LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 2,489 shares of the business services provider’s stock, valued at approximately $535,000.

A number of other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in Broadridge Financial Solutions by 3,197.8% during the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after purchasing an additional 198,169 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter worth $274,650,000. Earnest Partners LLC raised its stake in shares of Broadridge Financial Solutions by 25.9% during the first quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock valued at $74,609,000 after purchasing an additional 75,006 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after acquiring an additional 72,018 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Broadridge Financial Solutions by 97.2% in the first quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock valued at $21,689,000 after acquiring an additional 52,171 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions 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 completion of the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,386 shares of company stock valued at $28,112,824. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on BR shares. Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $218.30 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock has a 50 day simple moving average of $213.71 and a 200 day simple moving average of $206.50. Broadridge Financial Solutions, Inc. has a 1-year low of $175.21 and a 1-year high of $224.32. The stock has a market cap of $25.52 billion, a P/E ratio of 37.25 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.21 EPS. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

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.