Centaurus Financial Inc. Acquires 876 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Centaurus Financial Inc. grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 14.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,050 shares of the business services provider’s stock after acquiring an additional 876 shares during the quarter. Centaurus Financial Inc.’s holdings in Broadridge Financial Solutions were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Broadridge Financial Solutions during the third quarter valued at about $44,746,000. Assenagon Asset Management S.A. grew its holdings in shares of Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after purchasing an additional 198,169 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter valued at approximately $274,650,000. Dimensional Fund Advisors LP raised its stake in shares of Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after purchasing an additional 72,018 shares in the last quarter. Finally, Dearborn Partners LLC lifted its position in Broadridge Financial Solutions by 53.5% in the second quarter. Dearborn Partners LLC now owns 135,095 shares of the business services provider’s stock worth $26,614,000 after purchasing an additional 47,081 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.2 %

NYSE BR opened at $230.24 on Monday. The stock’s 50 day simple moving average is $217.48 and its 200 day simple moving average is $209.27. Broadridge Financial Solutions, Inc. has a one year low of $185.30 and a one year high of $230.30. The firm has a market cap of $26.91 billion, a PE ratio of 39.83 and a beta of 1.05. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.53%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Analyst Ratings Changes

Several brokerages have issued reports on BR. JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group started coverage on Broadridge Financial Solutions in a report on Thursday. They set a “neutral” rating and a $250.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, Morgan Stanley boosted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $222.43.

Insider Activity

In other news, Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. This represents a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,294 shares of company stock valued at $16,944,095 over the last three months. 1.30% of the stock is owned by insiders.

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.