Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.0% during the 3rd quarter, Holdings Channel reports. The fund owned 20,967 shares of the business services provider’s stock after purchasing an additional 2,079 shares during the quarter. Van ECK Associates Corp’s holdings in Broadridge Financial Solutions were worth $4,536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Bogart Wealth LLC grew its position in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of 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 during the 2nd quarter worth approximately $32,000. New Covenant Trust Company N.A. acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $34,000. Finally, Family Firm Inc. purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at approximately $37,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Up 1.9 %

Shares of NYSE BR opened at $225.36 on Friday. The stock has a market cap of $26.34 billion, a PE ratio of 38.46 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12-month low of $175.21 and a 12-month high of $226.16. The company has a 50-day moving average of $214.29 and a 200 day moving average of $206.90.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday. 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 note on Tuesday, August 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $217.83.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 25,000 shares of the business’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,898 shares of company stock worth $33,293,234 in the last three months. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions 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.