Empowered Funds LLC Buys 606 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Empowered Funds LLC boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 32.5% during the third quarter, Holdings Channel reports. The fund owned 2,468 shares of the business services provider’s stock after purchasing an additional 606 shares during the period. Empowered Funds LLC’s holdings in Broadridge Financial Solutions were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of Broadridge Financial Solutions by 99.6% in the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after acquiring an additional 8,837 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Broadridge Financial Solutions by 5.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock valued at $11,329,000 after acquiring an additional 2,685 shares in the last quarter. Atria Investments Inc boosted its stake in shares of Broadridge Financial Solutions by 9.7% in the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after buying an additional 2,610 shares during the last quarter. BDF Gestion purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth about $3,954,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Broadridge Financial Solutions by 22.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock valued at $7,191,000 after purchasing an additional 6,690 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group assumed coverage on Broadridge Financial Solutions in a research report on Thursday. They issued a “neutral” rating and a $250.00 target price for the company. 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 report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $222.43.

Broadridge Financial Solutions Stock Up 1.2 %

Shares of BR opened at $230.24 on Monday. 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 stock has a market capitalization of $26.91 billion, a price-to-earnings ratio of 39.83 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1 year low of $185.30 and a 1 year high of $230.30. The business’s 50 day simple moving average is $217.48 and its 200-day simple moving average is $209.27.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data 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 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $1.09 earnings per share. Broadridge Financial Solutions’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts expect 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. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the sale, the chairman now owns 105,094 shares in the company, valued at $21,823,820.04. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,294 shares of company stock worth $16,944,095. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions 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.