Jmac Enterprises LLC Takes $215,000 Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Jmac Enterprises LLC bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,000 shares of the business services provider’s stock, valued at approximately $215,000.

Several other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after acquiring an additional 198,169 shares during the period. International Assets Investment Management LLC acquired a new stake in Broadridge Financial Solutions during the 3rd quarter worth $274,650,000. Earnest Partners LLC boosted its stake in Broadridge Financial Solutions by 25.9% during the 1st quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock worth $74,609,000 after purchasing an additional 75,006 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Broadridge Financial Solutions by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after purchasing an additional 72,018 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Broadridge Financial Solutions by 97.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock worth $21,689,000 after purchasing an additional 52,171 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $221.18 on Friday. The stock has a 50 day moving average price of $214.04 and a 200 day moving average price of $206.69. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of 37.74 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $175.21 and a 52-week high of $225.29.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BR shares. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.83.

Insider Transactions at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the company’s 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 sale, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,713 shares of company stock worth $27,967,456 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Company 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.