Prime Capital Investment Advisors LLC Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Prime Capital Investment Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 978 shares of the business services provider’s stock, valued at approximately $210,000.

Other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC lifted its holdings in Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. purchased a new stake in Broadridge Financial Solutions during the 1st quarter worth about $34,000. Finally, Family Firm Inc. purchased a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on BR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley raised their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $217.83.

Broadridge Financial Solutions Price Performance

BR opened at $227.78 on Monday. The stock’s 50 day simple moving average is $215.95 and its 200 day simple moving average is $208.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a 1 year low of $180.31 and a 1 year high of $230.00. The firm has a market cap of $26.63 billion, a price-to-earnings ratio of 39.41 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $1.09 EPS. Broadridge Financial Solutions’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.31, for a total value of $5,232,750.00. Following the completion of the transaction, the chief executive officer now owns 206,349 shares in the company, valued at $43,190,909.19. This trade represents a 10.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,534 shares of company stock worth $24,748,962. 1.30% of the stock is currently owned by insiders.

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.