Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Raised by Captrust Financial Advisors

Captrust Financial Advisors increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,012 shares of the business services provider’s stock after buying an additional 438 shares during the quarter. Captrust Financial Advisors’ holdings in Broadridge Financial Solutions were worth $7,529,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Bahl & Gaynor Inc. boosted its holdings in shares of Broadridge Financial Solutions by 0.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock valued at $218,447,000 after acquiring an additional 6,634 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after purchasing an additional 72,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Broadridge Financial Solutions by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock valued at $194,585,000 after purchasing an additional 20,775 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Broadridge Financial Solutions by 3.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider’s stock valued at $157,741,000 after purchasing an additional 28,614 shares during the period. Finally, abrdn plc raised its stake in shares of Broadridge Financial Solutions by 5.5% in the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after buying an additional 27,869 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on BR shares. UBS Group initiated coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. Morgan Stanley raised their price objective 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 reiterated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised their target price 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. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $222.43.

Insider Activity

In related 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 transaction of $5,325,778.85. Following the completion of the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares in the company, valued at approximately $21,823,820.04. The trade was a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,294 shares of company stock worth $16,944,095 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.7 %

BR stock opened at $234.32 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $27.39 billion, a P/E ratio of 40.54 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $237.74. The company’s 50 day simple moving average is $220.06 and its 200-day simple moving average is $210.60.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.50%. Broadridge Financial Solutions’s payout ratio is presently 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.