Benjamin Edwards Inc. Has $31.62 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Benjamin Edwards Inc. grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2,302.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 147,004 shares of the business services provider’s stock after buying an additional 140,886 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.13% of Broadridge Financial Solutions worth $31,618,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BR. Bogart Wealth LLC lifted its holdings in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC lifted its holdings in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Rothschild Investment LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Broadridge Financial Solutions during the third quarter worth about $38,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,294 shares of company stock valued at $16,944,095. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $236.02 on Monday. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.74. The stock’s 50 day moving average is $220.06 and its 200-day moving average is $210.54. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $27.59 billion, a price-to-earnings ratio of 40.83 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate 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 in the prior year, the company posted $1.09 earnings per share. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley raised their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. UBS Group started coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and an average price target of $222.43.

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.