First Horizon Advisors Inc. Acquires 160 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

First Horizon Advisors Inc. lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,105 shares of the business services provider’s stock after buying an additional 160 shares during the quarter. First Horizon Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $238,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 1.6% during the first quarter. Bessemer Group Inc. now owns 7,012 shares of the business services provider’s stock valued at $1,436,000 after purchasing an additional 109 shares during the period. Natixis boosted its position in Broadridge Financial Solutions by 9,913.6% in the 1st quarter. Natixis now owns 2,203 shares of the business services provider’s stock valued at $451,000 after buying an additional 2,181 shares during the period. CreativeOne Wealth LLC boosted its position in Broadridge Financial Solutions by 22.0% in the 1st quarter. CreativeOne Wealth LLC now owns 1,549 shares of the business services provider’s stock valued at $317,000 after buying an additional 279 shares during the period. Toronto Dominion Bank increased its position in shares of Broadridge Financial Solutions by 4.4% during the first quarter. Toronto Dominion Bank now owns 71,093 shares of the business services provider’s stock worth $14,564,000 after acquiring an additional 2,989 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Broadridge Financial Solutions by 97.2% during the first quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock valued at $21,689,000 after acquiring an additional 52,171 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $230.24 on Friday. The company has a 50 day moving average of $217.12 and a two-hundred day moving average of $208.88. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a twelve month low of $185.30 and a twelve month high of $230.30. The company has a market cap of $26.91 billion, a price-to-earnings ratio of 39.83 and a beta of 1.05.

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 for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm earned $1.09 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. 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 dividend payout ratio (DPR) is currently 60.90%.

Insider Activity at Broadridge Financial Solutions

In related news, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now owns 105,094 shares in the company, valued at $21,823,820.04. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leslie A. Brun sold 5,739 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $210.05, for a total value of $1,205,476.95. Following the sale, the director now owns 77,318 shares in the company, valued at approximately $16,240,645.90. The trade was a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,033 shares of company stock valued at $18,149,572 in the last three months. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BR shares. JPMorgan Chase & Co. raised 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. Royal Bank of Canada restated 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 target price 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. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday. They set a “neutral” rating and a $250.00 price objective on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $222.43.

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.