Brooklyn Investment Group Takes $142,000 Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Brooklyn Investment Group acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 662 shares of the business services provider’s stock, valued at approximately $142,000.

Several other institutional investors and hedge funds have also made changes to their positions in BR. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at $44,746,000. Assenagon Asset Management S.A. increased its stake in Broadridge Financial Solutions by 3,197.8% in the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after purchasing an additional 198,169 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Broadridge Financial Solutions in the third quarter valued at $274,650,000. Dimensional Fund Advisors LP increased its stake in Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after purchasing an additional 72,018 shares during the last quarter. Finally, Dearborn Partners LLC increased its stake in Broadridge Financial Solutions by 53.5% in the second quarter. Dearborn Partners LLC now owns 135,095 shares of the business services provider’s stock valued at $26,614,000 after purchasing an additional 47,081 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on BR. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group assumed coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $222.43.

Insider Activity

In other news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction dated 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 completion of the sale, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction dated 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 17.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,294 shares of company stock worth $16,944,095. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $235.80 on Thursday. The firm has a market capitalization of $27.56 billion, a PE ratio of 40.80 and a beta of 1.05. 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 business has a 50-day moving average of $218.43 and a two-hundred day moving average of $209.84. Broadridge Financial Solutions, Inc. has a 12 month low of $186.19 and a 12 month high of $237.74.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

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 paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

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.