Blueshift Asset Management LLC Takes $754,000 Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Blueshift Asset Management LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,507 shares of the business services provider’s stock, valued at approximately $754,000.

Several other large investors have also bought and sold shares of the business. Bogart Wealth LLC boosted its holdings in Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions in the second quarter valued at approximately $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions during the first quarter worth $34,000. Finally, Family Firm Inc. bought a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $37,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 0.3 %

NYSE:BR opened at $235.80 on Thursday. The stock has a market capitalization of $27.56 billion, a price-to-earnings ratio of 40.80 and a beta of 1.05. The firm has a fifty day simple moving average of $218.43 and a two-hundred day simple moving average of $209.84. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12 month low of $186.19 and a 12 month high of $237.74.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was 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. The trade was a 17.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,294 shares of company stock worth $16,944,095. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BR. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley boosted 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 report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $222.43.

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.