1832 Asset Management L.P. Has $3.84 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

1832 Asset Management L.P. boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 274.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,745 shares of the business services provider’s stock after purchasing an additional 13,741 shares during the period. 1832 Asset Management L.P.’s holdings in Broadridge Financial Solutions were worth $3,840,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. LifeSteps Financial Inc. bought a new position in Broadridge Financial Solutions during the first quarter valued at about $32,000. Stuart Chaussee & Associates Inc. bought a new position in Broadridge Financial Solutions during the fourth quarter valued at about $34,000. Manchester Capital Management LLC raised its holdings in Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares in the last quarter. McClarren Financial Advisors Inc. raised its holdings in Broadridge Financial Solutions by 73.7% during the first quarter. McClarren Financial Advisors Inc. now owns 205 shares of the business services provider’s stock valued at $42,000 after buying an additional 87 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in Broadridge Financial Solutions by 140.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 300 shares of the business services provider’s stock valued at $62,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BR shares. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. DA Davidson reiterated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a research note on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Stock Performance

BR traded up $4.56 on Friday, hitting $212.63. 343,817 shares of the stock traded hands, compared to its average volume of 450,389. Broadridge Financial Solutions, Inc. has a 52 week low of $164.99 and a 52 week high of $213.24. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $25.13 billion, a PE ratio of 36.29 and a beta of 1.04. The business has a fifty day moving average price of $200.77 and a two-hundred day moving average price of $200.61.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s payout ratio is 54.61%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

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.