Choreo LLC Invests $925,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Choreo LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,702 shares of the business services provider’s stock, valued at approximately $925,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Broadridge Financial Solutions by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock valued at $2,866,238,000 after acquiring an additional 39,537 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Broadridge Financial Solutions by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock valued at $853,898,000 after purchasing an additional 28,180 shares in the last quarter. Capital International Investors lifted its position in Broadridge Financial Solutions by 0.3% during the first quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after purchasing an additional 7,970 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Broadridge Financial Solutions by 3.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock worth $306,609,000 after buying an additional 43,958 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in Broadridge Financial Solutions by 1.9% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,102,233 shares of the business services provider’s stock valued at $225,804,000 after buying an additional 20,023 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BR shares. DA Davidson reiterated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and an average target price of $213.33.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the transaction, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares in the company, valued at $10,721,078.17. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock worth $28,112,824 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of NYSE:BR opened at $210.52 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81. The company has a market capitalization of $24.88 billion, a PE ratio of 35.92 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The company has a fifty day moving average of $209.52 and a 200-day moving average of $203.03.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Broadridge Financial Solutions Company Profile

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.