Prana Capital Management LP Buys New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Prana Capital Management LP purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 20,444 shares of the business services provider’s stock, valued at approximately $4,622,000.

Other institutional investors have also modified their holdings of the company. Curio Wealth LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Broadridge Financial Solutions by 53.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after purchasing an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 98.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after acquiring an additional 1,204 shares during the last quarter. Park Place Capital Corp grew its holdings in Broadridge Financial Solutions by 31.3% in the 4th quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock valued at $1,318,000 after buying an additional 1,391 shares during the last quarter. Finally, Crown Oak Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 10.8% during the 4th quarter. Crown Oak Advisors LLC now owns 36,376 shares of the business services provider’s stock worth $8,224,000 after purchasing an additional 3,553 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. This represents a 8.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This trade represents a 36.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,473 shares of company stock worth $29,072,366 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR stock opened at $237.68 on Thursday. The firm has a market capitalization of $27.92 billion, a price-to-earnings ratio of 37.20 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a 50 day moving average price of $233.76 and a 200-day moving average price of $232.23. Broadridge Financial Solutions, Inc. has a 52-week low of $192.68 and a 52-week high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company earned $2.23 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be paid a $0.88 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 52.93%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. DA Davidson restated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and an average price target of $250.83.

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.