Thurston Springer Miller Herd & Titak Inc. Increases Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,015 shares of the business services provider’s stock after buying an additional 467 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Broadridge Financial Solutions were worth $1,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BR. EdgeRock Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $34,000. Family Firm Inc. purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $37,000. Finally, Anfield Capital Management LLC bought a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $39,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Up 1.8 %

BR stock opened at $220.74 on Monday. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81. The stock has a market cap of $26.09 billion, a price-to-earnings ratio of 37.67 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The company’s 50 day moving average is $212.02 and its 200 day moving average is $204.59.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the company posted $3.21 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.88 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Analysts Set New Price Targets

A number of brokerages recently commented on BR. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $213.33.

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.