Claro Advisors LLC Increases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Claro Advisors LLC increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 79.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,965 shares of the business services provider’s stock after purchasing an additional 872 shares during the period. Claro Advisors LLC’s holdings in Broadridge Financial Solutions were worth $423,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions in the second quarter worth about $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions in the 1st quarter valued at $34,000. Family Firm Inc. purchased a new stake in Broadridge Financial Solutions in the second quarter worth $37,000. Finally, McClarren Financial Advisors Inc. lifted its position in shares of Broadridge Financial Solutions by 65.5% during the second quarter. McClarren Financial Advisors Inc. now owns 197 shares of the business services provider’s stock worth $39,000 after purchasing an additional 78 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Up 0.4 %

NYSE:BR opened at $219.10 on Friday. The firm has a market cap of $25.89 billion, a P/E ratio of 37.39 and a beta of 1.05. The firm has a 50-day simple moving average of $212.64 and a 200-day simple moving average of $205.15. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $224.32.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results 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 business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $3.21 EPS. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.61%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Insider Activity

In related news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. This trade 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, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BR. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. 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 research report on Tuesday, August 20th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and an average 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.