Broadridge Financial Solutions, Inc. $BR Shares Purchased by Board of the Pension Protection Fund

Board of the Pension Protection Fund lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 83.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,700 shares of the business services provider’s stock after acquiring an additional 2,600 shares during the period. Broadridge Financial Solutions accounts for 1.5% of Board of the Pension Protection Fund’s investment portfolio, making the stock its 27th biggest holding. Board of the Pension Protection Fund’s holdings in Broadridge Financial Solutions were worth $1,385,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ORG Partners LLC raised its stake in shares of Broadridge Financial Solutions by 360.0% during the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after buying an additional 90 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at about $29,000. Continuum Advisory LLC raised its stake in shares of Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after buying an additional 46 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Broadridge Financial Solutions by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock valued at $35,000 after buying an additional 117 shares during the last quarter. Finally, Olde Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday. Needham & Company LLC lifted their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Finally, Morgan Stanley raised their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $261.50.

Broadridge Financial Solutions Trading Down 0.6%

Shares of Broadridge Financial Solutions stock opened at $232.81 on Friday. The firm has a market capitalization of $27.17 billion, a PE ratio of 32.84 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a twelve month low of $208.20 and a twelve month high of $271.91. The firm’s 50-day moving average price is $250.05 and its 200 day moving average price is $242.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The firm had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a dividend of $0.975 per share. The ex-dividend date was Thursday, September 11th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s payout ratio is presently 55.01%.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer owned 143,285 shares of the company’s stock, valued at approximately $37,020,545.45. The trade was a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,532 shares of company stock worth $38,417,208. Corporate insiders own 1.10% of the company’s stock.

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.