Concord Wealth Partners Acquires 212 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Concord Wealth Partners raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 41.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 720 shares of the business services provider’s stock after purchasing an additional 212 shares during the quarter. Concord Wealth Partners’ holdings in Broadridge Financial Solutions were worth $119,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BR. American Century Companies Inc. raised its position in Broadridge Financial Solutions by 10.7% in the 1st quarter. American Century Companies Inc. now owns 8,155 shares of the business services provider’s stock valued at $1,270,000 after purchasing an additional 788 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Broadridge Financial Solutions by 6.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,625 shares of the business services provider’s stock valued at $2,433,000 after purchasing an additional 992 shares during the last quarter. Raymond James Trust N.A. raised its position in Broadridge Financial Solutions by 126.2% in the 1st quarter. Raymond James Trust N.A. now owns 3,384 shares of the business services provider’s stock valued at $527,000 after purchasing an additional 1,888 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Broadridge Financial Solutions by 1,851.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 527 shares of the business services provider’s stock valued at $82,000 after buying an additional 500 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Broadridge Financial Solutions by 13.2% in the 1st quarter. Allianz Asset Management GmbH now owns 12,722 shares of the business services provider’s stock valued at $1,981,000 after buying an additional 1,487 shares during the period. Institutional investors own 89.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $190.00 target price on shares of Broadridge Financial Solutions in a research note on Thursday, September 28th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. Wolfe Research raised Broadridge Financial Solutions from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, October 17th. Finally, Raymond James lifted their target price on Broadridge Financial Solutions from $183.00 to $186.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $173.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 12,834 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $186.45, for a total value of $2,392,899.30. Following the completion of the transaction, the president now directly owns 77,352 shares of the company’s stock, valued at $14,422,280.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 12,834 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $186.45, for a total value of $2,392,899.30. Following the completion of the transaction, the president now directly owns 77,352 shares of the company’s stock, valued at $14,422,280.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Keir D. Gumbs sold 2,688 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $186.41, for a total value of $501,070.08. Following the completion of the transaction, the vice president now directly owns 14,023 shares of the company’s stock, valued at $2,614,027.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,035 shares of company stock valued at $34,423,247. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of Broadridge Financial Solutions stock opened at $176.80 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 1.74. Broadridge Financial Solutions, Inc. has a 12 month low of $131.83 and a 12 month high of $189.69. The business has a fifty day simple moving average of $180.46 and a 200 day simple moving average of $168.60. The stock has a market cap of $20.88 billion, a PE ratio of 33.42 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.11. Broadridge Financial Solutions had a return on equity of 40.58% and a net margin of 10.81%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm earned $2.65 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Research analysts predict that Broadridge Financial Solutions, Inc. will post 7.64 EPS for the current year.

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.