Concurrent Investment Advisors LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,838 shares of the business services provider’s stock after purchasing an additional 425 shares during the period. Concurrent Investment Advisors LLC’s holdings in Broadridge Financial Solutions were worth $1,900,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. Norden Group LLC acquired a new position in shares of Broadridge Financial Solutions in the first quarter valued at $286,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Broadridge Financial Solutions by 2.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,710 shares of the business services provider’s stock valued at $4,038,000 after buying an additional 508 shares during the last quarter. Empirical Finance LLC raised its holdings in Broadridge Financial Solutions by 3.6% in the 1st quarter. Empirical Finance LLC now owns 4,130 shares of the business services provider’s stock valued at $846,000 after acquiring an additional 144 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Broadridge Financial Solutions by 39.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 28,144 shares of the business services provider’s stock worth $5,766,000 after acquiring an additional 8,001 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Broadridge Financial Solutions during the first quarter worth approximately $641,000. 90.03% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $217.83.
Insider Buying and Selling at Broadridge Financial Solutions
In other news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,713 shares of company stock worth $27,967,456 over the last three months. Corporate insiders own 1.30% of the company’s stock.
Broadridge Financial Solutions Stock Up 0.8 %
Shares of NYSE BR opened at $221.18 on Friday. The stock has a market capitalization of $25.85 billion, a P/E ratio of 37.74 and a beta of 1.05. The stock’s fifty day moving average is $214.04 and its 200 day moving average is $206.69. Broadridge Financial Solutions, Inc. has a 52 week low of $175.21 and a 52 week high of $225.29. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $1.09 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.
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.
Read More
- Five stocks we like better than Broadridge Financial Solutions
- Compound Interest and Why It Matters When Investing
- Gilead’s Stock Surge: What’s Fueling the Momentum?
- Where Do I Find 52-Week Highs and Lows?
- Breakout Alert: Qualcomm Just Hit The Rally Button
- What Makes a Stock a Good Dividend Stock?
- Mercado Libre Shares Go on Sale: Is Now the Time to Buy?
Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report).
Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.