Natixis Advisors LLC Grows Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Natixis Advisors LLC increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,817 shares of the business services provider’s stock after acquiring an additional 5,857 shares during the quarter. Natixis Advisors LLC owned about 0.08% of Broadridge Financial Solutions worth $19,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Equitable Trust Co. purchased a new stake in Broadridge Financial Solutions in the 2nd quarter worth approximately $234,000. Ritholtz Wealth Management bought a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $238,000. Summit Financial LLC boosted its stake in Broadridge Financial Solutions by 22.0% in the 2nd quarter. Summit Financial LLC now owns 4,624 shares of the business services provider’s stock worth $915,000 after purchasing an additional 834 shares during the period. Aptus Capital Advisors LLC boosted its stake in Broadridge Financial Solutions by 0.6% in the 2nd quarter. Aptus Capital Advisors LLC now owns 49,560 shares of the business services provider’s stock worth $9,764,000 after purchasing an additional 311 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Broadridge Financial Solutions by 561.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,639 shares of the business services provider’s stock worth $715,000 after purchasing an additional 3,089 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BR. DA Davidson restated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $213.33.

Broadridge Financial Solutions Stock Down 0.7 %

NYSE BR opened at $211.45 on Wednesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $24.68 billion, a P/E ratio of 36.08 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The stock has a 50 day moving average price of $207.79 and a 200-day moving average price of $202.47.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The company had revenue of $1.94 billion during 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%. Broadridge Financial Solutions’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $3.21 earnings per share. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.88 dividend. The ex-dividend date is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.66%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Insider Buying and Selling

In related news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction on 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 directly owns 67,215 shares in the company, valued at $13,938,374.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the stock in a transaction on 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 sale, the president now owns 67,215 shares in the company, valued at $13,938,374.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leslie A. Brun sold 5,739 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $210.05, for a total value of $1,205,476.95. Following the completion of the sale, the director now owns 77,318 shares in the company, valued at approximately $16,240,645.90. The disclosure for this sale can be found here. Insiders sold a total of 94,914 shares of company stock worth $19,815,248 over the last three months. 1.60% of the stock is 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.