Kestra Advisory Services LLC Grows Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kestra Advisory Services LLC boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRGet Rating) by 23.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,845 shares of the business services provider’s stock after buying an additional 2,217 shares during the period. Kestra Advisory Services LLC’s holdings in Broadridge Financial Solutions were worth $1,709,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. MGO One Seven LLC increased its holdings in shares of Broadridge Financial Solutions by 3.5% in the 2nd quarter. MGO One Seven LLC now owns 1,742 shares of the business services provider’s stock valued at $248,000 after acquiring an additional 59 shares during the period. Cambridge Trust Co. increased its holdings in shares of Broadridge Financial Solutions by 2.5% in the 2nd quarter. Cambridge Trust Co. now owns 2,538 shares of the business services provider’s stock valued at $361,000 after acquiring an additional 62 shares during the period. Kesler Norman & Wride LLC increased its holdings in shares of Broadridge Financial Solutions by 1.1% in the 2nd quarter. Kesler Norman & Wride LLC now owns 7,001 shares of the business services provider’s stock valued at $998,000 after acquiring an additional 73 shares during the period. Texas Permanent School Fund increased its holdings in shares of Broadridge Financial Solutions by 0.5% in the 2nd quarter. Texas Permanent School Fund now owns 15,223 shares of the business services provider’s stock valued at $2,170,000 after acquiring an additional 77 shares during the period. Finally, Northstar Group Inc. increased its holdings in shares of Broadridge Financial Solutions by 0.3% in the 3rd quarter. Northstar Group Inc. now owns 30,997 shares of the business services provider’s stock valued at $4,473,000 after acquiring an additional 78 shares during the period. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BR shares. Wolfe Research cut their price target on Broadridge Financial Solutions from $137.00 to $135.00 in a report on Thursday, January 5th. Morgan Stanley began coverage on Broadridge Financial Solutions in a report on Wednesday, December 14th. They issued an “equal weight” rating and a $160.00 price target on the stock. TheStreet downgraded Broadridge Financial Solutions from a “b” rating to a “c+” rating in a research note on Wednesday, November 2nd. DA Davidson dropped their target price on Broadridge Financial Solutions to $160.00 in a research note on Thursday, October 27th. Finally, Raymond James dropped their target price on Broadridge Financial Solutions from $189.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd.

Broadridge Financial Solutions Stock Up 2.8 %

Shares of BR stock opened at $146.29 on Monday. The stock’s fifty day moving average price is $141.26 and its 200 day moving average price is $151.08. Broadridge Financial Solutions, Inc. has a 1-year low of $131.35 and a 1-year high of $183.33. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $17.21 billion, a price-to-earnings ratio of 33.25 and a beta of 0.93.

Broadridge Financial Solutions (NYSE:BRGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The business services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.03). Broadridge Financial Solutions had a return on equity of 39.99% and a net margin of 9.01%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm posted $1.07 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 6.93 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 5th. Shareholders of record on Thursday, December 15th were given a dividend of $0.725 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $2.90 dividend on an annualized basis and a yield of 1.98%. Broadridge Financial Solutions’s dividend payout ratio is currently 65.91%.

Insiders Place Their Bets

In other news, Director Thomas J. Perna sold 42,417 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $147.57, for a total value of $6,259,476.69. Following the completion of the transaction, the director now owns 29,704 shares of the company’s stock, valued at approximately $4,383,419.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

About Broadridge Financial Solutions

(Get Rating)

Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.

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

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