Transcend Capital Advisors LLC Increases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Transcend Capital Advisors LLC grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.1% during the 4th quarter, Holdings Channel reports. The firm owned 8,112 shares of the business services provider’s stock after buying an additional 809 shares during the period. Transcend Capital Advisors LLC’s holdings in Broadridge Financial Solutions were worth $1,669,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Broadridge Financial Solutions by 680.1% during the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock worth $17,584,000 after purchasing an additional 74,387 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $227,750,000. Crown Oak Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $7,032,000. Comerica Bank purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $8,116,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $1,089,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BR. DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James upped their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI reiterated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $206.67.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now owns 32,480 shares in the company, valued at approximately $6,648,980.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now owns 32,480 shares in the company, valued at approximately $6,648,980.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Down 0.7 %

Shares of NYSE:BR traded down $1.41 during midday trading on Friday, hitting $194.15. 211,848 shares of the company’s stock traded hands, compared to its average volume of 369,147. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $22.87 billion, a PE ratio of 33.82 and a beta of 0.99. The firm’s fifty day moving average price is $200.54 and its two-hundred day moving average price is $194.55. Broadridge Financial Solutions, Inc. has a twelve month low of $140.06 and a twelve month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.65%. Broadridge Financial Solutions’s payout ratio is 55.75%.

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.