DAVENPORT & Co LLC Has $331,000 Stake in Broadridge Financial Solutions, Inc. $BR

DAVENPORT & Co LLC boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,363 shares of the business services provider’s stock after purchasing an additional 88 shares during the period. DAVENPORT & Co LLC’s holdings in Broadridge Financial Solutions were worth $331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BR. ORG Partners LLC boosted its position in Broadridge Financial Solutions by 360.0% in the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after buying an additional 90 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Broadridge Financial Solutions in the 1st quarter valued at $29,000. Continuum Advisory LLC boosted its position in Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after buying an additional 46 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in Broadridge Financial Solutions by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock valued at $35,000 after buying an additional 117 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new position in Broadridge Financial Solutions in the 1st quarter valued at $36,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on BR shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Needham & Company LLC increased their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $261.50.

Insider Activity

In other news, CEO Timothy C. Gokey sold 5,674 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock worth $38,417,208 in the last three months. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR stock opened at $232.81 on Monday. The business’s 50-day moving average price is $250.05 and its two-hundred day moving average price is $242.59. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a market cap of $27.17 billion, a PE ratio of 32.84 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 1-year low of $208.20 and a 1-year high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The firm had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were issued a dividend of $0.975 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.01%.

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.