McKinney Capital Management LLC Buys New Shares in Broadridge Financial Solutions, Inc. $BR

McKinney Capital Management LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,784 shares of the business services provider’s stock, valued at approximately $1,576,000. Broadridge Financial Solutions accounts for 0.6% of McKinney Capital Management LLC’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also modified their holdings of the company. Valley Wealth Managers Inc. lifted its stake in shares of Broadridge Financial Solutions by 230.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 172 shares of the business services provider’s stock valued at $28,000 after buying an additional 120 shares in the last quarter. First Command Advisory Services Inc. raised its holdings in Broadridge Financial Solutions by 496.7% during the third quarter. First Command Advisory Services Inc. now owns 179 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares during the period. Security National Bank of SO Dak bought a new position in shares of Broadridge Financial Solutions in the second quarter worth about $26,000. Markowski Investments bought a new position in shares of Broadridge Financial Solutions in the second quarter worth about $27,000. Finally, Bell Investment Advisors Inc purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $29,000. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BR has been the topic of several recent analyst reports. Weiss Ratings raised Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. UBS Group reiterated a “neutral” rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $176.00 to $181.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 4th. DA Davidson restated a “buy” rating and set a $214.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Broadridge Financial Solutions from $191.00 to $201.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $212.71.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas Carey sold 2,501 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $159.76, for a total value of $399,559.76. Following the completion of the transaction, the vice president owned 8,800 shares in the company, valued at approximately $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Maura Markus sold 3,180 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $191.89, for a total value of $610,210.20. Following the sale, the director directly owned 33,769 shares in the company, valued at $6,479,933.41. The trade was a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.00% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

Shares of BR stock traded up $0.80 on Friday, reaching $192.27. The company’s stock had a trading volume of 725,997 shares, compared to its average volume of 1,091,831. The stock’s fifty day simple moving average is $173.29 and its 200-day simple moving average is $165.46. Broadridge Financial Solutions, Inc. has a 1 year low of $133.83 and a 1 year high of $233.10. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $21.75 billion, a price-to-earnings ratio of 21.25 and a beta of 0.90.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.19. Broadridge Financial Solutions had a net margin of 13.94% and a return on equity of 40.32%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm earned $1.51 earnings per share. Broadridge Financial Solutions’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that Broadridge Financial Solutions, Inc. will post 10.58 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Investors of record on Thursday, December 10th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.3%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 48.18%.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.