First Horizon Advisors Inc. Boosts Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

First Horizon Advisors Inc. raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,105 shares of the business services provider’s stock after buying an additional 160 shares during the period. First Horizon Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BR. Bessemer Group Inc. grew its holdings in Broadridge Financial Solutions by 1.6% during the first quarter. Bessemer Group Inc. now owns 7,012 shares of the business services provider’s stock worth $1,436,000 after acquiring an additional 109 shares during the period. Natixis grew its stake in shares of Broadridge Financial Solutions by 9,913.6% during the 1st quarter. Natixis now owns 2,203 shares of the business services provider’s stock worth $451,000 after purchasing an additional 2,181 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of Broadridge Financial Solutions by 22.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,549 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 279 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Broadridge Financial Solutions by 4.4% in the 1st quarter. Toronto Dominion Bank now owns 71,093 shares of the business services provider’s stock valued at $14,564,000 after purchasing an additional 2,989 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Broadridge Financial Solutions by 97.2% during the first quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock worth $21,689,000 after buying an additional 52,171 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions 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. The trade was a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 17,534 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. This trade represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,033 shares of company stock valued at $18,149,572. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 1.2 %

Shares of BR stock opened at $230.24 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $185.30 and a fifty-two week high of $230.30. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock’s fifty day moving average is $217.12 and its two-hundred day moving average is $208.88. The firm has a market capitalization of $26.91 billion, a P/E ratio of 39.83 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. Broadridge Financial Solutions’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given 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 1.53%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BR. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley upped their price target on 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 began coverage on Broadridge Financial Solutions in a research report on Thursday. They issued a “neutral” rating and a $250.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $222.43.

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.