Pathstone Holdings LLC Acquires 87 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Pathstone Holdings LLC lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the third quarter, HoldingsChannel.com reports. The firm owned 20,791 shares of the business services provider’s stock after purchasing an additional 87 shares during the quarter. Pathstone Holdings LLC’s holdings in Broadridge Financial Solutions were worth $4,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bogart Wealth LLC boosted its holdings in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter worth about $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at about $34,000. Finally, Family Firm Inc. purchased a new position in Broadridge Financial Solutions in the second quarter worth about $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BR. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. UBS Group assumed coverage on Broadridge Financial Solutions in a report on Thursday. They set a “neutral” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $222.43.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $230.24 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock’s fifty day moving average is $217.48 and its 200 day moving average is $209.14. The firm has a market capitalization of $26.91 billion, a PE ratio of 39.83 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a fifty-two week low of $185.30 and a fifty-two week high of $230.30.

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

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the sale, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This trade represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 84,033 shares of company stock valued at $18,149,572. Insiders own 1.30% of the company’s stock.

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.