Harbour Investments Inc. Raises Holdings in Broadridge Financial Solutions, Inc. $BR

Harbour Investments Inc. boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 489 shares of the business services provider’s stock after acquiring an additional 45 shares during the quarter. Harbour Investments Inc.’s holdings in Broadridge Financial Solutions were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC lifted its holdings 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 worth $28,000 after buying an additional 90 shares during the period. Golden State Wealth Management LLC purchased a new stake in Broadridge Financial Solutions in the 1st quarter worth approximately $29,000. Continuum Advisory LLC lifted its holdings 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 worth $34,000 after buying an additional 46 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its holdings 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 worth $35,000 after buying an additional 117 shares during the period. Finally, Olde Wealth Management LLC purchased a new stake in Broadridge Financial Solutions in the 1st quarter worth approximately $36,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction on 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 completion of the sale, the chief executive officer owned 143,285 shares of the company’s stock, valued at approximately $37,020,545.45. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, August 12th. The stock was 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 directly owned 48,813 shares of the company’s stock, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 147,532 shares of company stock valued at $38,417,208. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.4%

Shares of NYSE:BR opened at $232.09 on Friday. The stock has a fifty day simple moving average of $244.52 and a two-hundred day simple moving average of $242.18. The stock has a market capitalization of $27.09 billion, a price-to-earnings ratio of 32.73 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 12-month low of $208.20 and a 12-month high of $271.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal 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 $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio is 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.