1,695 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Acquired by Cerity Partners LLC

Cerity Partners LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRGet Rating) during the 2nd quarter, Holdings Channel reports. The fund acquired 1,695 shares of the business services provider’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venture Visionary Partners LLC bought a new position in Broadridge Financial Solutions during the 2nd quarter worth approximately $28,000. Carl Stuart Investment Advisor Inc. bought a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $31,000. Clear Street Markets LLC boosted its stake in Broadridge Financial Solutions by 406.3% during the 2nd quarter. Clear Street Markets LLC now owns 243 shares of the business services provider’s stock worth $35,000 after acquiring an additional 195 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $50,000. Finally, Lumature Wealth Partners LLC boosted its stake in Broadridge Financial Solutions by 82.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 365 shares of the business services provider’s stock worth $57,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 87.14% of the company’s stock.

Insider Activity

In other news, Chairman Richard J. Daly sold 72,983 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $175.35, for a total value of $12,797,569.05. Following the sale, the chairman now directly owns 143,170 shares in the company, valued at $25,104,859.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $147.10 on Tuesday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $17.31 billion, a P/E ratio of 33.43 and a beta of 0.93. The company’s 50 day moving average price is $146.85 and its two-hundred day moving average price is $151.14. Broadridge Financial Solutions, Inc. has a 52 week low of $131.35 and a 52 week high of $185.40.

Broadridge Financial Solutions (NYSE:BRGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). Broadridge Financial Solutions had a net margin of 9.01% and a return on equity of 39.99%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $1.07 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 6.97 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Thursday, December 15th will be issued a $0.725 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $2.90 dividend on an annualized basis and a dividend yield of 1.97%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 65.91%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James dropped their target price on shares of Broadridge Financial Solutions from $189.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. DA Davidson dropped their target price on shares of Broadridge Financial Solutions to $160.00 in a report on Thursday, October 27th. Finally, TheStreet downgraded shares of Broadridge Financial Solutions from a “b” rating to a “c+” rating in a report on Wednesday, November 2nd.

Broadridge Financial Solutions Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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