Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Kensington Investment Counsel LLC

Kensington Investment Counsel LLC raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,096 shares of the business services provider’s stock after buying an additional 224 shares during the quarter. Kensington Investment Counsel LLC’s holdings in Broadridge Financial Solutions were worth $2,816,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bogart Wealth LLC lifted its stake in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. Rothschild Investment LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. True Wealth Design LLC increased its position in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $37,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

BR opened at $235.43 on Friday. The stock’s 50-day moving average price is $222.41 and its 200 day moving average price is $211.66. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96. The firm has a market cap of $27.52 billion, a price-to-earnings ratio of 40.73 and a beta of 1.07. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm 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 $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

Wall Street Analysts Forecast Growth

A number of analysts have recently 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. UBS Group started coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. 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 research report on Tuesday, August 20th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $222.43.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now owns 50,237 shares in the company, valued at $10,721,078.17. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,066 shares of company stock worth $16,006,777 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Company 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.