Wilmington Savings Fund Society FSB bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,415 shares of the business services provider's stock, valued at approximately $3,530,000.
Several other hedge funds have also modified their holdings of BR. Bogart Wealth LLC lifted its stake in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock valued at $26,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC lifted its position in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock valued at $32,000 after acquiring an additional 142 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $32,000. Rothschild Investment LLC acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in Broadridge Financial Solutions in the 3rd quarter valued at approximately $38,000. 90.03% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE BR opened at $236.02 on Friday. The firm's 50 day moving average price is $224.07 and its 200 day moving average price is $212.52. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market cap of $27.59 billion, a P/E ratio of 40.83 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $237.96.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors 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 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions's dividend payout ratio is presently 60.90%.
A number of analysts have commented on the company. UBS Group initiated coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a "neutral" rating and a $250.00 target price on the stock. StockNews.com cut shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Royal Bank of Canada restated an "outperform" rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased 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 report on Tuesday, August 20th. Finally, DA Davidson lifted their price objective on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $226.71.
Read Our Latest Stock Analysis on Broadridge Financial Solutions
In related news, 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 transaction, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company's stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is owned by company insiders.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Broadridge Financial Solutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadridge Financial Solutions wasn't on the list.
While Broadridge Financial Solutions currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.