Assetmark Inc. Acquires 377 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Assetmark Inc. lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 130.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 667 shares of the business services provider’s stock after acquiring an additional 377 shares during the period. Assetmark Inc.’s holdings in Broadridge Financial Solutions were worth $143,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. NBC Securities Inc. grew its position in shares of Broadridge Financial Solutions by 0.8% during the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock worth $1,279,000 after buying an additional 45 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Broadridge Financial Solutions by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after acquiring an additional 50 shares during the last quarter. Garrison Asset Management LLC grew its holdings in Broadridge Financial Solutions by 0.3% during the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after acquiring an additional 50 shares during the period. TIAA Trust National Association raised its position in shares of Broadridge Financial Solutions by 1.0% during the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after acquiring an additional 52 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in shares of Broadridge Financial Solutions by 2.5% in the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 52 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,534 shares of company stock worth $24,748,962. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.1 %

NYSE BR opened at $227.78 on Monday. Broadridge Financial Solutions, Inc. has a one year low of $180.31 and a one year high of $230.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market cap of $26.63 billion, a P/E ratio of 39.41 and a beta of 1.05. The stock’s 50-day moving average is $215.95 and its 200-day moving average is $208.23.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

Analysts Set New Price Targets

BR has been the subject of a number of analyst reports. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $217.83.

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.