D.A. Davidson & CO. Makes New $212,000 Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

D.A. Davidson & CO. purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the third quarter, HoldingsChannel.com reports. The firm purchased 987 shares of the business services provider’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC boosted its holdings in Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. EdgeRock Capital LLC purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at approximately $37,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The stock was 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. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The trade was a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,004 shares of company stock valued at $20,562,422 over the last three months. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group assumed coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Morgan Stanley upped their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $222.43.

Broadridge Financial Solutions Stock Performance

BR stock opened at $232.86 on Thursday. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.74. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock’s 50 day simple moving average is $220.97 and its 200 day simple moving average is $211.02. The firm has a market cap of $27.22 billion, a P/E ratio of 40.29 and a beta of 1.07.

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 41.79% and a net margin of 10.57%. The firm 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 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

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.