Tectonic Advisors LLC Purchases 70 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Tectonic Advisors LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,841 shares of the business services provider’s stock after acquiring an additional 70 shares during the period. Tectonic Advisors LLC’s holdings in Broadridge Financial Solutions were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BR. Bogart Wealth LLC boosted its stake 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 acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. Rothschild Investment LLC bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at approximately $32,000. New Covenant Trust Company N.A. purchased a new position in Broadridge Financial Solutions during the first quarter valued at $34,000. Finally, Family Firm Inc. purchased a new position in Broadridge Financial Solutions during the second quarter valued at $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $213.33.

Insider Activity

In related news, CEO Timothy C. Gokey sold 25,000 shares of the firm’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 value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock valued at $28,112,824 in the last quarter. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $214.03 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The firm’s 50-day moving average price is $213.32 and its 200-day moving average price is $205.64. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $224.32. The company has a market cap of $25.29 billion, a PE ratio of 36.52 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business earned $3.21 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.64%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

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.