Lombard Odier Asset Management Europe Ltd Purchases 2,861 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Lombard Odier Asset Management Europe Ltd raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 26.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,861 shares of the business services provider’s stock after purchasing an additional 2,861 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Broadridge Financial Solutions were worth $2,731,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Public Sector Pension Investment Board raised its stake in shares of Broadridge Financial Solutions by 79.8% in the second quarter. Public Sector Pension Investment Board now owns 4,640 shares of the business services provider’s stock worth $914,000 after purchasing an additional 2,060 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Broadridge Financial Solutions by 12.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 662 shares of the business services provider’s stock valued at $142,000 after buying an additional 71 shares during the last quarter. Long Road Investment Counsel LLC lifted its stake in Broadridge Financial Solutions by 0.6% during the 2nd quarter. Long Road Investment Counsel LLC now owns 17,300 shares of the business services provider’s stock valued at $3,408,000 after acquiring an additional 100 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Broadridge Financial Solutions by 1.0% during the 2nd quarter. ProShare Advisors LLC now owns 54,956 shares of the business services provider’s stock worth $10,826,000 after acquiring an additional 569 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Broadridge Financial Solutions by 3.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider’s stock worth $157,741,000 after acquiring an additional 28,614 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the 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 sale, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock valued at $28,112,824 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $210.54 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $24.88 billion, a PE ratio of 35.93 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The stock’s fifty day moving average price is $210.51 and its two-hundred day moving average price is $203.40.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $3.21 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current 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 paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is currently 60.07%.

Analyst Upgrades and Downgrades

BR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

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.