Horizon Kinetics Asset Management LLC Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Horizon Kinetics Asset Management LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,248 shares of the business services provider’s stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BR. Bogart Wealth LLC grew its stake in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter worth about $34,000. Finally, Family Firm Inc. bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley increased their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. UBS Group started coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research 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. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $222.43.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $233.28 on Tuesday. Broadridge Financial Solutions, Inc. has a 52 week low of $185.41 and a 52 week high of $234.45. The company has a market capitalization of $27.27 billion, a price-to-earnings ratio of 40.36 and a beta of 1.05. The company has a 50-day simple moving average of $217.92 and a 200 day simple moving average of $209.55. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion during 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 was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction on 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 sale, the vice president now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,294 shares of company stock worth $16,944,095. 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.