Creative Planning Has $4.95 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Creative Planning raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,039 shares of the business services provider’s stock after purchasing an additional 300 shares during the period. Creative Planning’s holdings in Broadridge Financial Solutions were worth $4,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BR. EdgeRock Capital LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter worth $32,000. Rothschild Investment LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter worth $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth $34,000. Family Firm Inc. acquired a new stake in shares of Broadridge Financial Solutions in the second quarter worth $37,000. Finally, McClarren Financial Advisors Inc. grew its stake in shares of Broadridge Financial Solutions by 65.5% in the second quarter. McClarren Financial Advisors Inc. now owns 197 shares of the business services provider’s stock worth $39,000 after acquiring an additional 78 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions 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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Timothy C. Gokey sold 25,000 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the sale, the chairman now owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $213.33.

Broadridge Financial Solutions Stock Up 0.2 %

Shares of BR stock opened at $216.78 on Friday. The stock has a market cap of $25.62 billion, a P/E ratio of 36.99 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $224.32. The stock has a fifty day moving average price of $213.22 and a 200 day moving average price of $205.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $3.21 earnings per share. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.88 per share. The ex-dividend date was Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.62%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

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.