Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.9% during the third quarter, HoldingsChannel reports. The firm owned 4,847 shares of the business services provider’s stock after purchasing an additional 180 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Broadridge Financial Solutions were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of BR. Bogart Wealth LLC boosted its holdings in shares of Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at $34,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BR. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $217.83.

Broadridge Financial Solutions Stock Performance

BR opened at $227.08 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market cap of $26.54 billion, a price-to-earnings ratio of 39.29 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $182.57 and a 52-week high of $230.00. The firm’s fifty day simple moving average is $216.28 and its two-hundred day simple moving average is $208.45.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Christopher John Perry sold 6,501 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $210.22, for a total transaction of $1,366,640.22. Following the completion of the sale, the president now owns 67,771 shares of the company’s stock, valued at $14,246,819.62. This trade represents a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,534 shares of company stock valued at $24,748,962 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

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.