Public Sector Pension Investment Board Grows Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Public Sector Pension Investment Board lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,840 shares of the business services provider’s stock after buying an additional 200 shares during the quarter. Public Sector Pension Investment Board’s holdings in Broadridge Financial Solutions were worth $1,041,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Bogart Wealth LLC lifted its position 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 buying an additional 96 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. Rothschild Investment LLC purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth about $32,000. Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $38,000. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR stock opened at $235.43 on Friday. The firm has a market cap of $27.52 billion, a P/E ratio of 40.73 and a beta of 1.07. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $237.96. The stock has a 50-day simple moving average of $222.41 and a 200-day simple moving average of $211.66.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. Broadridge Financial Solutions’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The trade was a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,066 shares of company stock valued at $16,006,777 in the last ninety days. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group began coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Finally, 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 report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $222.43.

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.