FSA Wealth Management LLC Invests $39,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

FSA Wealth Management LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 184 shares of the business services provider’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bahl & Gaynor Inc. increased its stake in shares of Broadridge Financial Solutions by 0.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock worth $218,447,000 after purchasing an additional 6,634 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Broadridge Financial Solutions by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after purchasing an additional 72,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Broadridge Financial Solutions by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock valued at $194,585,000 after acquiring an additional 20,775 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Broadridge Financial Solutions by 3.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider’s stock worth $157,741,000 after purchasing an additional 28,614 shares during the period. Finally, abrdn plc increased its position in shares of Broadridge Financial Solutions by 5.5% in the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after acquiring an additional 27,869 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the sale, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. This trade represents a 17.27 % 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 in the last 90 days. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Up 0.1 %

Shares of BR stock opened at $236.02 on Monday. The stock has a market cap of $27.59 billion, a P/E ratio of 40.83 and a beta of 1.05. The stock has a fifty day moving average price of $220.06 and a 200 day moving average price of $210.54. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $237.74. 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:BRGet Free Report) 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. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $1.09 EPS. Broadridge Financial Solutions’s revenue was down .6% compared to the same quarter last year. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley boosted their price objective 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. UBS Group started coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their target price 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $222.43.

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About Broadridge Financial Solutions

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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